GrandVision’s Vision Express Acquires Tesco Opticians in the U.K.

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SCHIPHOL, The Netherlands—GrandVision NV, (EURONEXT: GVNV), the major global optical retail group, announced the acquisition of Tesco Opticians through its U.K. optical group business, Vision Express.

The acquisition incorporates Tesco Optician’s network of 209 stores across the U.K. and Republic of Ireland, bringing the total number of Vision Express outlets to 598.

Tesco Opticians employs over 1,500 people and had revenues of approximately £90 million in 2016. Vision Express intends to retain the valued experience of the Tesco Optician personnel in all stores, the company said.

The transaction, which is subject to regulatory approval by the U.K. Competition and Markets Authority, is expected to complete later in 2017. The financial terms of this transaction have not been disclosed.

GrandVision’s leading optical retail banners operate in more than 40 countries across Europe, the Americas, the Middle East and Asia. GrandVision serves its
customers in over 6,500 stores.