Essilor International to buy MyOptique Group

Essilor International has agreed to buy MyOptique Group. Financial terms weren’t announced. Sellers include Acton Capital Partners, Beringea, Cipio Partners, Index Ventures, Korys and Highland Capital Europe. London-based MyOptique is an online optical retailer.

PRESS RELEASE
August 16, 2016 05:45 AM Eastern Daylight Time
LONDON–(BUSINESS WIRE)–The MyOptique Group, a major European online optical retailer with annual revenues of GBP 57 million, announces today that it has entered into a definitive agreement to be acquired by Essilor International, the world leader in ophthalmic optics.
Subsequent to the transaction the management of MyOptique will remain in place, and will leverage Essilor International’s capabilities to continue growing its leading position in Europe. As part of Essilor, MyOptique will leverage Essilor’s global supply chain and collaborate with its other operating businesses to improve the reach and effectiveness of its business across Europe.
Kevin Cornils, CEO of MyOptique, commented:
“This transaction represents a major milestone for the MyOptique Group. Our new ownership provides a tremendous platform from which to continue to build a very successful business on our proven multi-category, multi-brand model. My management team and I are delighted by the opportunity afforded from becoming part of the Essilor family.”
Maurice Helfgott, Chairman of MyOptique commented:
“The strong success of MyOptique in the European marketplace owes so much to its entrepreneurial founders, its smart and supportive investors and its visionary and talented management team led by Kevin Cornils. The business has achieved pan European scale, is growing fast and had a number of strategic options for its next stage. Joining Essilor, the world leader in ophthalmic optics, was by far the most compelling one.”
MyOptique is a privately held, Venture Capital backed business. Shareholders who supported the successful development of the company and will sell their shares in this transaction include Acton Capital Partners, Beringea, Cipio Partners, Index Ventures, Korys and Highland Capital Europe.
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