CHARENTON-LE-PONT, France—Essilor (Reuters: ESSI.PA) announced today that it has entered into a definitive agreement to acquire MyOptique Group Ltd., a leading European online prescription glasses, contact lenses and sunglasses business.

Essilor said the acquisition will broaden its online footprint to Central Europe and to enhance its capabilities in successful multi-category, multi-brand models. Details of the pending transaction were not disclosed.

Based in the United Kingdom, MyOptique Group is a privately held, venture capital-backed business. The company reported £57 million in revenue in the year ended April 30, 2016.

The company's value proposition is built around a successful multi-category, multi-brand model, which is being deployed through a number of local websites, such as Glasses Direct (prescription glasses) and SunglassesShop (non-prescription sunglasses) in the U.K., Lensbest (contact lenses) in Germany and LensOn (contact lenses) mainly in the Nordic countries.

In addition, MyOptique Group has developed several house brands, such as London Retro and Scout marketed by Glasses Direct. It serves around one million active customers.

MyOptique Group's key management team, headed by CEO Kevin Cornils, will remain in place.

“This transaction represents a major milestone for the MyOptique Group. Our new ownership provides a tremendous platform from which to continue to build a very successful business on our proven multi-category, multi-brand model,” Cornils said in a statement posted on the MyOptique website.

The transaction is subject to customary closing conditions.