New Look Vision Group announces the acquisition of Luxury Optical Holdings | Business
MONTREAL AND NEW YORK – (BUSINESS WIRE) – Dec. 1 2021–
New Look Vision Group announces today that it has entered into a definitive agreement to acquire New York-based Luxury Optical Holdings (“LOH” or the “Company”). With its current luxury optical presence in Canada, the acquisition of Edward Beiner in 2020 and a previously announced partnership with Black Optical earlier this year, New Look Vision Group is now a leading optical group. luxury in the world. New Look Vision Group is supported by San Francisco-based FFL Partners and Montreal-based Caisse de dépôt et placement du Québec, following its privatization transaction that closed earlier this year.
LOH is the largest luxury optical retailer in the United States, operating primarily under the Morgenthal Frederics, Robert Marc, Salle Opticians, Georgetown Optician and Leonard Opticians retail banners. LOH has a network of 34 locations and a long-standing presence in high-end markets such as Manhattan, Los Angeles, Miami, Washington DC, Atlanta, Chicago and Aspen.
In addition, the company continues to expand its workshop which designs and manufactures small production batches of the highest quality buffalo horn, titanium, acetate and slate eyewear at top factories in Germany, Japan and in France. LOH exclusively distributes the Robert Marc, Lunor and Morgenthal Frederics brands to hundreds of high-end independent eyecare professionals across North America.
New Look Vision Group plans to continue LOH, and its underlying brands, as a separate stand-alone business unit under the leadership of Tim Mayhew and plans to retain the head office and management staff in current roles. New Look Vision Group acquires LOH from Chicago-based Monroe Capital, an $ 11.2 billion asset manager focused on mid-market companies.
Antoine Amiel, President and CEO of New Look Vision Group, said: “I feel privileged to welcome the LOH team to our organization. I am impressed with LOH’s accomplishments over the past few years, under the leadership of Tim Mayhew. The transaction will be a major milestone for both organizations, with particular emphasis on expansion – both retail and wholesale – and product development. “
Tim Mayhew, CEO of LOH, said: “I am proud to partner with New Look Vision Group and create the largest collection of luxury optical stores. LOH partners with the best independent eyewear designers and opticians and is grateful to be a part of this community. Antoine Amiel and I share a belief that eyewear is the most important luxury accessory and I look forward to working with him to build a high-end global optics company. “
Terms of the transaction were not disclosed and closing is subject to customary conditions.
About New Look Vision Group
New Look Vision Group is the largest optical group in the eye care industry in Canada and has experienced rapid expansion in the United States since its acquisition of Edward Beiner in March 2020 and its partnership with Black Optical in 2021. New Look Vision Group has a network of 428 branches operating mainly under the Iris, New Look Eyewear, Vogue Optical, Greiche & Scaff and Edward Beiner banners and a laboratory using advanced technologies. For more information, please see our website www.newlookvision.ca.
About Luxury Optical Holdings
LOH is the leading premium and luxury optical retailer in the United States with a network of 34 branches in key urban markets across the country, operating under the banners of Morgenthal Frederics, Robert Marc, Salle Opticians, Georgetown Optician and Leonard Opticians. LOH also distributes its own buffalo horn frames under the Morgenthal Frederics brand and a collection of premium eyewear under the Robert Marc brand. It is also the exclusive distributor in North America of the German eyewear brand Lunor.
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CONTACT: Rivka Boxer
KEYWORD: UNITED STATES NORTH AMERICA CANADA NEW YORK
INDUSTRY KEYWORD: SPECIALTY OPTICAL HEALTH LUXURY FASHION DETAIL
SOURCE: New Look Vision Group
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PUB: 12/01/2021 6:00 a.m. / DISC: 12/01/2021 6:02 a.m.
Copyright Business Wire 2021.