EssilorLuxottica to acquire Optical Investment Group
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EssilorLuxottica has signed an agreement to acquire the entire share capital of Optical Investment group, a Romanian eye wear and eye care retailer, the company announced in a press release.
“We are pleased to welcome Optical Investment Group into our network, a well-established player in the Romanian optical market with an experienced management team and a deep knowledge of the local dynamics,” Francesco Milleri, EssilorLuxottica’s chairman and CEO, said in the release. “Allowing us to further grow our retail presence in the [Central and Eastern Europe] region, this acquisition supports our objective to elevate the Romanian market and expand access to high quality vision care for the benefit of all our stakeholders.”
According to the release, Optical Investment Group was established in 2019 with Innova Capital by merging Romanian retail chains Optiblu and Optiplaza. Since then, the retailer has significantly expanded its network of stores and e-commerce channels with more than 650 employees, including optometrists.
Pending regulatory approvals, EssilorLuxottica anticipates completing the acquisition by the end of 2024.
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