EssilorLuxottica completes acquisition of GrandVision
The acquisition of GrandVision, a global leader in optical retails, represents an important milestone for the Company, and a significant step towards unlocking EssilorLuxottica’s full potential.
On 1 July 2021, EssilorLuxottica announced that it had completed the acquisition of a 76.72% ownership interest in GrandVision from HAL Optical Investments. This was in line with the block trade agreement entered into with HAL in July 2019. In September, EssilorLuxottica acquired additional shares at the same price and, on 7 October 2021, it made a recommended mandatory public offer to all shareholders, which brought EssilorLuxottica’s total stake in GrandVision’s issued share capital to 99.73%. Following the Post-Acceptance Period that ended on December 20, EssilorLuxottica will hold in total approximately 99.84% of the issued share capital of GrandVision. The last trading date of GrandVision shares will occur on 7 January 2022, while the delisting of GrandVision shares will become effective on 10 January 2022.
GrandVision today not only complements the Company’s retail network, it also accelerates its mission of helping people See more, Be more. Engaging more effectively with consumers will result in more regular eye exams, up-to-date prescriptions and an increased availability of vision care products to meet their vision and style needs.
With GrandVision and its 39,000 valued employees joining the EssilorLuxottica family, the Company will explore new paths around product development, digitalization, distribution and innovation, creating more value for all its stakeholders.