BUSINESS: Retailers FYidoctors Bolsters National Brand Portfolio With BonLook Acquisition, Founders to Remain With the Company By Staff Tuesday, November 30, 2021 12:24 AM CALGARY, Alberta and MONTREAL—FYidoctors, Canada’s leading diversified health care organization, has acquired BonLook, the Montreal-based brand famous for its trendy styles and technology-driven approach to eyewear, according to a recent announcement. The addition of BonLook boosts the FYidoctors portfolio “with new opportunities to expand the brand nationally and beyond,” the announcement noted. The terms of the transaction were not disclosed. BonLook is a leading eyewear retailer founded in 2011 by Sophie Boulanger and Louis-Félix Boulanger. The firm is a pioneer in the online sale of branded prescription eyewear in Canada, and the company now operates 36 stores across five Canadian provinces, the announcement noted. FYidoctors acquired BonLook from Canadian investor group Walter Capital Partners.In a statement posted on its website, Walter Capital said, "After five years of helping drive BonLook’s growth on the Canadian market, Walter Capital Partners is transferring its holdings in the company to FYihealth, a leading Canadian business that will give it the opportunity to expand its network. In its years as a BonLook partner, Walter Capital helped the company increase its footprint from four to 36 locations and achieve a tenfold increase in revenue."BonLook has developed a unique technology-driven approach in the field of optics. Known for its stylish frames, quality lenses and accessible prices, BonLook said it frequently collaborates with inspiring Canadian personalities. Its latest campaigns showcase Canada’s diversity. “We are delighted to welcome the BonLook team to FYidoctors,” Dr. Alan Ulsifer, chairman and chief executive officer of FYidoctors, said. “BonLook strengthens our overall portfolio with a brand that stands apart with a modern consumer offering.” Ulsifer added, “We’re here to support BonLook’s growth and to continue offering unparalleled service to existing and new customers while creating business conditions for even more innovation to offer more quality products and superior services.” BonLook co-founder and chief executive officer Sophie Boulanger said the deal “ushers in a new chapter for us and it brings exciting growth, access to resources and the opportunity to learn from their award-winning culture.” She added, “We are thrilled to be joining the FYidoctors organization. We saw an immediate upside for our brand and company when we analyzed synergies between our organizations. BonLook’s entry into the FYidoctors family will provide the company and its employees with new strategic opportunities in this high growth market.” "We would like to thank the entire team at Walter Capital who were able to support us at various stages of our growth and allowed us to expand our brand across Canada in the past five years,” added Louis-Félix Boulanger, co-founder and chief operating officer of BonLook. “Their support, both financial and strategic, has helped bring us to the milestone we are celebrating today. We also want to thank Anges Québec [another investor group] who have been supporting us for many years.” BonLook’s leadership team, helmed by Sophie Boulanger and Louis-Félix Boulanger will continue in their current roles, with the added benefit of FYidoctors’ team at-large offering support as required, the announcement noted. “We welcome the entire BonLook team as we embark on a new chapter in the development of this high potential brand. The addition of BonLook to our portfolio strengthens our positions in retail, manufacturing and optometry. FYidoctors can clearly lay claim to being the most vertically integrated eyecare company in Canada,” Ulsifer stated. Stifel GMP is acting as financial advisor to BonLook. Fasken Martineau DuMoulin LLP is acting as legal advisor to BonLook. Burnet, Duckworth & Palmer LLP is acting as legal advisor to FYidoctors.