Schiphol - 4 December 2017. GrandVision announces that it has completed the acquisition of Tesco Opticians in the UK.
The acquisition incorporates Tesco Optician's network of 209 stores across the UK and Republic of Ireland, bringing the total number of Vision Express outlets close to 600. Tesco Opticians had revenues of approximately 90 million GBP in 2016. Vision Express intends to retain the valued experience of the Tesco Optician personnel in all stores, which will operate under the Vision Express brand.
Tesco Opticians will be consolidated in GrandVision's financial statements and reported in the G4 segment as of 4 December 2017.
The financial terms of this transaction have not been disclosed.
