January 14, 2019
Consumer / Retail / E-commerce / Leisure, Luxury
Mergers and Acquisitions
GCA Advises Vendis Capital on the Sale of Eyes+More to Hans Anders
GCA acted as exclusive financial advisor to Vendis Capital, the founders and the managers on the sale of innovative optical retailer Eyes + More to 3i-backed Hans Anders, the market-leading affordable optical retailer in Benelux and Sweden.
Eyes + More operates 170 stores in Germany, the Netherlands, Belgium and Austria. Positioning itself in the affordable market segment, with simple and transparent prices, Eyes + More markets prescription eyewear as fashionable accessories, a concept that differs significantly from its competitors’ approaches.
Michiel Deturck, Partner at Vendis Capital said: “During our investment period, the company has more than doubled in size and profitability through fast organic growth. It was a privilege to help the founders and the management to develop this innovative concept and to support its international roll-out in four countries. We strongly believe in the concept’s innovativeness and are convinced that by joining forces with Hans Anders the company is well placed to continue its successful growth story.”
By acquiring Eyes + More, Hans Anders is expanding its footprint to five countries and creating a European optical retail platform. Hans Anders plans to continue to roll-out the Eyes + More concept.
Bart van den Nieuwenhof, CEO of Hans Anders commented: “Eyes + More is a great strategic fit for Hans Anders and the acquisition will transform our company into a European platform, making it the leading Northwest European optical retailer in the growing value-for-money segment.”
Terms of the transaction were not disclosed.