Warsaw-based EssilorLuxottica has announced the acquisition of the entire share capital of Optical Investment Group, a retailer of optical eyecare and eyewear products in Romania, from Innova Capital Group, and a group of individual minority shareholders. The transaction amount was undisclosed.
- OIG is a retailer and a distributor on the Romanian optical market. The group provides a large variety of eyecare products and services. The group has almost 100 stores operating mostly in shopping malls in Bucharest and main cities in Romania.
- Optical Investment Group was established in 2019 in cooperation with Innova Capital by combining two Romanian optical retail chains OPTIblu and Optiplaza. The company operates under three banners: OPTIblu, Optiplaza, and O51.
- Innova Capital is an independent private equity adviser operating from Poland and investing in majority buyouts in mid-sized enterprises across Central and Eastern Europe. Since its inception in 1994, Innova Capital has invested close to €1.4 billion in almost 70 companies across 10 countries.
The fresh deal details:
The companies claim that the agreement will help to elevate the optical market in Romania for the
benefit of all industry players. It will allow EssilorLuxottica to grow appreciation for eyewear and eyecare solutions among consumers and continuing to deliver its solutions to over 1,800 customers and partners.
Joining the EssilorLuxottica family not only marks a milestone in our journey but also highlights our
collective dedication to excellence and innovation in vision care. It is a privilege to lead a team that is now
joining a global leader like EssilorLuxottica. Together, we are poised to elevate the optical sector to
unprecedented levels, ensuring quality care and exceptional service for our customers across Romania, —Alina Bistreanu, CEO at Optical Investment Group, said.
The transaction is expected to close in Q4 2024, pending regulatory approvals and other customary
closing conditions.
