Vision Express acquires Tesco Opticians
Acquisition includes stores in Balbriggan, Naas and Portlaoise
Vision Express says it intends to retain Tesco Optician personnel in all its stores. Photograph: Vision Express
British optical retailer Vision Express has announced the acquisition of Tesco Opticians. The acquisition incorporates all of Tesco Opticians’ network across the UK, and includes three stores in Ireland in Balbriggan, Naas and Portlaoise. The company employs 10 staff across these three outlets.
The transaction, which is subject to regulatory approval, will bring the total number of Vision Express outlets to 598 across the UK and Ireland.
Tesco Opticians had total revenues across its 206 stores of £90 million (€107.5m) in 2016. Tesco Ireland told The Irish Times it had agreed to the sale “in a move to further simplify its business and serve its shoppers better”.
If approved by the UK Competition and Markets Authority, the deal is expected to complete this year.
In a statement Vision Express committed to retaining the Tesco Optician personnel in all its stores.
“[The deal] provides us with the opportunity to invest in the future of the nation’s eye health by extending our reach even further across Ireland,” said Vision Express chief executive Jonathan Lawson.
Vision Express is owned by GrandVision which currently operates in more than 40 countries with over 31,000 employees, 110 of whom are in Ireland. The company is the third largest optical retailer in the UK.