American Optical Services (AOS) Acquires Atlanta-Based The Eye Gallery
|September 23, 2011 12:30 AM
LAS VEGAS, Nev.—American Optical Services (AOS) announced their acquisition of The Eye Gallery, a 10-unit optical group with stores located in Georgia and Florida.
“This transaction is a great stepping stone for AOS; The Eye Gallery is an extraordinary company built under great leadership which will be very additive to our portfolio,” said Pierre Keyser, AOS CEO.
Eye Gallery president Ivan Samuels agrees: “The Eye Gallery grew over 20 years by finding the best talent and offering consistent, high quality service to customers. It was a perfect match to be acquired by AOS as they understand our business and have the vision to take it to the next level,” he said.
Samuels, a long time industry executive, told VMail, "AOS's business model will enable The Eye Gallery to grow and at the same time this move enables us to keep our fine people and team in place." The Eye Gallery generated sales of about $12 million in 2010, according to VM's most recent Top 50 U.S. optical retailers ranking. Going forward, a proprietary point-of-sale system, which Samuels developed for The Eye Gallery stores and has licensed to AOS, will be something Samuels plans to make available for other optical retailers.
AOS, which currently owns and operates 73 units including The Eye Gallery, according to Darin Nathan, AOS's VP of acquisitions, will continue to pursue its objective of consolidating the optometric and ophthalmologic market in the U.S. via additional acquisitons and expect to have over 200 locations by the end of 2013.
Nathan also told VMail that in Nov. 2010, AOS acquired all nine of Optical Management Systems, a Flint, Mich.-based operation. "Our core business is optometric and ophthalmic practices. Though we want to provide doctors with an exit strategy and take away the operational hassles, the value is in the brand so nothing changes name-wise," he said.
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