With the acquisition of GrandVision, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7200 stores globally, over 37,000 employees and €3.7bn in annual revenue. EssilorLuxottica SA agreed to buy GrandVision NV in a deal that values the smaller Dutch eyecare retailer at as much as 7.3 billion euros ($8.1 billion) and … Skip to main content This site uses cookies. Together, we will have an even stronger voice to champion better vision everywhere in the world.”. The deal with GrandVision would help EssilorLuxottica solidify its global dominance by adding a vast network of European eyewear chains. We use cookies to offer a better user experience and to analyze site traffic. GrandVision sells lower-priced eyewear through chains such as Brilleland and For Eyes in more than 40 countries. 17 July 2019: Add Files. GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 98 KB. The transaction is subject to various closing conditions, including regulatory approvals and mandatory consultation procedures, and is expected to close in 12 to 24 months. •Through the acquisition of GrandVision, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7,200 stores globally, over 37,000 employees and €3.7 billion in annual revenue •The combination, which further complements EssilorLuxottica’s scope of activities, will allow the Mergers Merger Cases. In this section you will find all the press releases concerning EssilorLuxottica: enter the website to discover more. “With GrandVision, we will be able to develop our retail network, finally extended throughout the geographies, and fully enable our multichannel and digital platforms. EssilorLuxottica said that after completing a transaction with holding company HAL Holding, it would seek to buy out the rest of GrandVision, which could ultimately value the Dutch company at more than €7.15 billion ($8 billion). To comply with the European General Data Protection Regulation (GDPR), we are implementing a cookie consent manager to provide residents of the EU/EEA with the ability to customize their cookies. A blockbuster deal in the eyecare retail space was announced on Wednesday as EssilorLuxottica, the maker of Ray-Ban sunglasses, agreed to buy Dutch retailer GrandVision NV in multi-billion dollar deal. EssilorLuxottica's $8.1bn acquisition of a 77% stake in GrandVision faces EU probe. ... Update on legal proceedings to obtain information from HAL and GrandVision. GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 31.07.19 Corporate EssilorLuxottica intends to acquire full ownership in GrandVision to create a truly global eyecare and eyewear company. Version: 1.0.12 Last modified: Wed Nov 25 2020 04:36:00 GMT-0800 (Pacific Standard Time) GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 31.07.19 Corporate GrandVision reports HY19 revenue growth of 7.3% … 31 July 2019: Add Files. Concerns have been raised that the merger may reduce competition for the wholesale supply of ophthalmic lenses and eyewear, … Analysts say the deal between EssilorLuxottica and GrandVision would provide greater scale by allowing the companies to pool their e-commerce offerings as they seek to address growing consumer demand to shop online. Ray-Ban and Sunglass Hut parent, EssilorLuxottica SA, has agreed to buy GrandVision NV, a deal valuing the smaller Dutch optical retail chain at as much as 7.3 billion euros ($8.1 billion). EssilorLuxottica was created last year from the €46.3 billion euro merger between Italian sunglasses maker Luxottica and French lens manufacturer Essillor. It has been unconditionally cleared in the US, Russia and Colombia, and is under review also in Brazil, Chile, Mexico and Turkey. EU antitrust enforcers have temporarily halted an investigation into Ray-Ban maker EssilorLuxottica’s $8.1bn bid for Dutch optician group GrandVision. The strategic logic behind EssilorLuxottica’s proposed acquisition of GrandVision has not changed despite the litigation between the two companies, Leonardo Del Vecchio, Essilux executive chairman, told the Italian daily Il Messaggero.Del Vecchio is the founder of Luxottica and is the main shareholder of Essilux through his family holding company Delfin. EssilorLuxottica, the world leader in optics, filed a lawsuit in Rotterdam, the Netherlands, to obtain information from the global optical distributor GrandVision about the impact of the coronavirus crisis on its business and to assess the extent of GrandVision’s breaches of its obligations under the Support Agreement.. EssilorLuxottica, which was formed through the merger of France's Essilor International SA and Italy's Luxottica Group SpA in 2018, agreed on July 31, 2019, to buy 76.72% of GrandVision at €28 per share, a deal that would value the target at €7.11 billion. Spectacles maker EssilorLuxottica said on Friday it would appeal against a court verdict regarding planned takeover target GrandVision, after losing a … “The acquisition of GrandVision represents the realization of a vision that has guided my actions and the growth of Luxottica over all these years,” said Leonardo Del Vecchio, executive chairman of EssilorLuxottica. EssilorLuxottica is acquiring GrandVision from Dutch private equity (PE) group HAL – which holds a 76.72 percent majority stake in GrandVision – at a cash purchase price equal to €28 per share – to be increased by 1.5 percent to €28.42 if closing of the acquisition does not occur within 12 months from the announcement date (31 July 2019). Upon completion, EssilorLuxottica will launch a mandatory public offer for the remaining GrandVision shares held by HAL. More reading Commission probes proposed EssilorLuxottica-GrandVision acquisition On this page you can search for all merger cases. 17 Aug 2020. EssilorLuxottica is acquiring GrandVision from Dutch private equity (PE) group HAL – which holds a 76.72 percent majority stake in GrandVision – at a cash purchase price equal to €28 per share – to be increased by 1.5 percent to €28.42 if closing of the acquisition does not occur within 12 months from the announcement date (31 July 2019). EssilorLuxottica, the maker of Ray-Ban sunglasses, is reconsidering its agreed €7.3 billion (US$8.8 billion) purchase of optical retailer GrandVision NV over legal and pandemic concerns, reported Bloomberg. In a merger which creates a truly global eyecare and eyewear company, French-Italian ophthalmic optics company EssilorLuxottica has acquired Dutch optical retailer GrandVision in an €8bn deal. De Brauw Blackstone Westbroek is acting as legal adviser. The previous deadline was August 27, Reuters reported. “This acquisition is another step towards our ambition to eradicate poor vision in the world before 2050,” said Hubert Sagnières, executive vice chairman of EssilorLuxottica. Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision … The press releases concerning EssilorLuxottica: enter the website to discover more competition regulator did not details. Hitachi High-Technologies for $ 4.8bn was still just over $ 144 ( €130 ) shortly after the,... 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