EssilorLuxottica announces decision to close acquisition of GrandVision on 1st July 2021 in accordance with the terms and conditions of the agreements signed on 30 July 2019
- EssilorLuxottica Board of Directors approves completion of acquisition of HAL’s 76.72% interest in GrandVision
- EssilorLuxottica announces its decision to proceed with the acquisition of HAL’s 76.72% interest in GrandVision at the price of Euro 28.42 per share as per the agreement entered on 30 July 2019
Charenton-le-Pont, France (June 29, 2021 – 7:00 pm) – Following the approval by its Board of Directors, EssilorLuxottica today announces its decision to complete the acquisition of HAL’s 76.72% interest in GrandVision on 1st July 2021 as per the terms and conditions of the agreement entered into on 30 July 2019.
“After assessing all our options, we have made the decision to proceed with the completion of the deal without further delay. The strategic rationale of the transaction remains strong and unchanged, and after two years of efforts and relentless work, we are now ready to turn a page and start a new chapter of EssilorLuxottica’s history, with GrandVision. In doing so, we will use the learnings and experience gathered over the past years to ensure GrandVision and its 37,000 talented employees are integrated successfully. As the industry returns to growth following the pandemic, we believe this is the perfect time to expand our retail network, so that we can engage more effectively with consumers and thus raise the visibility and quality of the entire industry. This will benefit all stakeholders, including our customers to whom we remain fully committed”, said Francesco Milleri and Paul du Saillant, respectively CEO and Deputy CEO of EssilorLuxottica.