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  • Deal or case news
  • July 31, 2019

HAL, GrandVision N.V. and EssilorLuxottica today announced that HAL will sell its 76.72% stake in Grandvision to EssilorLuxottica for approx. EUR 5.5. billion. GrandVision is a global optical retailer, operating in more than 40 different countries. Well-known GrandVision retail banners include Pearle, Eye Wish Opticiens, Apollo-Optik, Générale d’Optique and Vision Express. GrandVision’s shares are listed on Euronext Amsterdam.

HAL has had an ownership interest in GrandVision since 1996. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses, with a portfolio of iconic brands including Ray-Ban, Oakley, Persol and Vogue Eyewear. With this transaction, GrandVision will become part of a global eyecare and eyewear group having over 180,000 employees and with outstanding product innovation, manufacturing and commercialization, technology, brand portfolio, supply chain, talent development and digital expertise to foster a closer relationship with its wholesale and final consumers around the world.

In connection with HAL’s sale of its stake in GrandVision to EssilorLuxottica, GrandVision has committed itself to support the transaction (including by cooperating with EssilorLuxottica in connection with the anti-trust clearance process). The transaction is expected to close in 12 to 24 months. After the transaction has been successfully concluded, EssilorLuxottica will launch a mandatory public offer for all remaining outstanding GrandVision shares and subsequently expects to terminate GrandVision’s listing and acquire full control.

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