New Look Vision Rolls Up Six Southern Ontario Practices

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MONTREAL—New Look Vision Group (TSX: BCI) announced last Thursday that its optometric division, Iris, The Visual Group has acquired substantially all of the optical assets and business of the Darryl Sher group operating six retail optical clinics in Southern Ontario: Toronto, Owen Sound, Midland, Alliston, Angus and Bracebridge, all of which will be rebranded under the Iris banner. “After more than a year of integrating recent acquisitions, including Iris, and de-leveraging, this transaction marks the return to our Canadian roll-up strategy, in this case led by Iris,” said Antoine Amiel, president of New Look Vision. “Ontario is a key market in this growth process.”

Eric Babin, president of Iris stated, “These clinics will be seamlessly integrated into the Iris network. Their embracing the combination of retail, eyecare services and technology is perfectly aligned with the Iris model. We are very much looking forward to welcoming the amazing team of professionals at all six locations into our family.”

Darryl Sher, owner of the acquired outlets, remarked, “Joining the Iris network was a logical next step that will set my clinics up for continued success in the years to come. Iris’ commitment to the advancement of eyecare in Canada and strong culture are very much aligned with my core values. The decision to remain on as a minority partner in the acquired clinics was an easy one and I look forward to helping Iris in its stated objective of growing its presence in Canada’s most populous province.”