Prescription Eyewear Acquires LensOn, a Nordic Online Contact Lens Vendor
|December 17, 2012 12:18 AM
GROUNDWELL, Wiltshire, UK—Prescription Eyewear Ltd (PEL), the parent company of
GlassesDirect.com, has added
LensOn, a leading Nordic online contact lens seller, to its growing portfolio of brands. The terms of the transaction were not announced.
LensOn is the leading independent online contact lens seller in Northern Europe, operating local language sites across Sweden, Norway, Finland, Denmark, the Netherlands, Germany, France and the UK. The acquisition positions the Prescription Eyewear group as a European leader in the growing online optical segment with a full offering covering all three major segments in the eyewear market (prescription glasses, sunglasses and contact lenses).
PEL said the deal will also expand its geographical footprint across Europe; more than 60 percent of the group’s sales will now come from outside its home market in the UK. Total annual unique visitors to the group’s websites in 2012 numbered approximately 8.2 million across more than 100 countries and local sites in 12 different languages, according to PEL.
The combined group will have generated nearly $45 million, or €36 million, in gross retail sales in 2012, PEL said. Through November 2012 the group has served over 750,000 total customers, and currently ships over 2,000 pairs of glasses, sunglasses or contact lens orders a day, equating to a customer order shipped every 40 seconds, according to PEL.
The acquisition was financed by PEL’s existing venture capital investors, Acton Capital Partners, Highland Capital Partners and Index Ventures. Additional funding was received from GP BullHound Sidecar, Silicon Valley Bank and Kreos Capital.
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