MILAN, ITALY: Vision Group has signed an agreement to acquire the VistaSì chain in Italy, including the brand and all the 99 stores, and 75 GrandVision stores in the country.
This follows the commitments agreed upon with the European Commission on 23 March 2021, as part of the acquisition of GrandVision by EssilorLuxottica.
The agreement between EssilorLuxottica, GrandVision and Vision Group also provides for transitional agreements to support the business continuity of the divested perimeters following the implementation of the transaction.
Completion of the transaction between EssilorLuxottica, GrandVision and Vision Group is subject to the approval of the European Commission, as part of the commitments’ procedure. The transaction is expected to close in the first quarter of 2022.
Advisors to EssilorLuxottica and GrandVision: Mediobanca – Banca di Credito Finanziario S.p.A. and Lazard acted as financial advisors, Sullivan & Cromwell LLP served as M&A legal counsel, BonelliErede as antitrust advisors and Deloitte as carve-out advisors. Additionally, De Brauw Blackstone Westbroek N.V. continued to support GrandVision as legal advisor.
Advisors to Vision Group: CapM Advisors acted as financial advisor and ADVANT Nctm served as legal counsel. Deloitte and Fineurop Soditic S.p.A. provided due diligence and transaction support.
Vision Group manages over 300 directly opaerated and franchised stores across Italy through its national VisionOttica banner. In addition, Vision Group is also the largest retail network in the Italian optical market, with over 2,500 affiliated eyecare professionals who operate at various levels of affiliation.
Vision Group has grown both organically and through acquisitions to become the go-to optical destination for Italian families. Vision Group’s goal is to improve the visual wellbeing of its customers by focusing on their vision needs through superior service, technological innovation and best-in-class optical stores offering a personalized and professional experience. Since 2014, Vision Group’s growth has been supported by Arcadia SGR, which invested to accelerate the company’s expansion. www.visiongroup.it