Fielmann Group AG
Fielmann AG: Fielmann acquires 80 Percent of third-largest optical retail group in Spain
Fielmann AG / Key word(s): Expansion
Fielmann AG has today entered into binding agreements to acquire a 80 percent equity ownership stake in Óptica del Penedés S.L., the company that operates the optical retail chain Óptica & Audiología Universitaria in Spain. The shares are sold both by companies controlled by the founders of Óptica & Audiología Universitaria, Manuel Caballero und Rufo Gómez, – Grupo Gea RGS S.L. und Mirling Europe S.L. – as well as by Blanco Investments SGPS S.A..
With about 400,000 glasses sold and more than € 100 million in sales (2019), Óptica & Audiología Universitaria is the third largest optical retail chain in Spain. The family business currently operates 80 stores with more than 1,000 employees. The long-term plan is to operate more than 200 stores across Spain, to sell more than 90,000 glasses and to generate sales of more than € 250 million. The acquisition of the shares is based on a valuation of approximately € 185 million cash-and-debt-free for 80 percent of the shares of Óptica del Penedés S.L.. The transaction will take effect as of December 31, 2020, and is not subject to regulatory approval or other closing conditions. Manuel Caballero and Rufo Gómez, founders of Óptica & Audiología Universitaria, retain a 20 percent equity stake. Long-term option rights have been agreed regarding these shares.
17-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Fielmann AG |
Weidetrasse 118a | |
22083 Hamburg | |
Germany | |
Phone: | +49 (0)40 270 76-0 |
Fax: | +49 (0)40 270 76-390 |
Internet: | www.fielmann.de |
ISIN: | DE0005772206 |
WKN: | 577220 |
Indices: | SDAX |
Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
EQS News ID: | 1156004 |
End of Announcement | DGAP News Service |
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