GrandVision announces acquisition of McOptic in Switzerland
02 Août 2019 - 8:00AM
GrandVision announces acquisition of McOptic in Switzerland
Schiphol, the Netherlands - 2 August 2019.
GrandVision N.V. has acquired 100% of Graffiti Holding AG which
holds 100% of McOptic, the third largest optical retailer in
Switzerland with an estimated market share of 5% via its Swiss
business Visilab.
McOptic was founded in 1998 and operates 62 stores, which are
concentrated in the German speaking parts of the country. In 2018,
the business reported a net revenue of CHF 55 million and has more
than 300 employees.
GrandVision particularly values McOptic's mass-market
positioning in Switzerland and intends to retain the
well-established McOptic brand alongside the Visilab and Kochoptik
optical retail banners, which are positioned in the mid-to-high and
premium segments. The addition of McOptic will enable GrandVision
to strengthen its position in Switzerland by competing in all
segments of the market.
Stephan Borchert, CEO of GrandVision said “We are very excited
to welcome McOptic to the GrandVision family. McOptic is a highly
recognized optical retailer with a very competitive value
proposition. This acquisition strengthens our position in the Swiss
market, as we continue to execute our strategic priorities.”
The financial terms of this transaction have not been
disclosed.
- GrandVision Press Release