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Announced

GrandVision acquired Optica 2000 from El Corte Ingles.

Financials

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optical retailer

Specialty Retailers

Spain

Acquisition

Private

Synopsis

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GrandVision, a global leader in optical retailing, acquired Optica 2000, a optical retail chain, from El Corte Ingles, the biggest department store group in Europe. Financial terms were not disclosed. Stephan Borchert, CEO of GrandVision, says: "Óptica2000 is a well-established business with a very loyal customer base, and its acquisition, together with our business +Vision, enables us to offer high-quality eye care solutions in all the segments of the Spanish market. We are very enthusiastic about strengthening our position in the important Spanish market through this acquisition, and we will also benefit from the strong loyalty of El Corte Inglés customers and the excellent locations of the stores".

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