EssilorLuxottica set to acquire Optical Investment Group

EssilorLuxottica has signed a deal to buy Optical Investment Group, allowing it to enter the ‘dynamic’ Romanian optical retail market.

Optical Investment Group is a leading retailer of optical eye care and eyewear products in Romania.

The acquisition, expected to be completed in the final quarter of 2024, will allow EssilorLuxottica to further its commitment to enhancing access to high-quality vision care worldwide.

It will also expand the organisation’s existing footprint in Central and Eastern Europe (CEE).

The expansion into Romania will be a significant step forward in elevating the optical market in Romania, EssilorLuxottica said.

Francesco Milleri, chairman and chief executive officer at EssilorLuxottica, said: “We are pleased to welcome Optical Investment Group into our network.”

The Group is “a well-established player in the Romanian optical market, with an experienced management team and a deep knowledge of the local dynamics,” Milleri said.

He added: “Allowing us to further grow our retail presence in the CEE region, this acquisition supports our objective to elevate the Romanian market and expand access to high quality vision care for the benefit of all our stakeholders.”

Optical Investment Group was established in 2019, through the merger of two existing Romanian optical retail chains, OPTIblu and Optiplaza.

Since then, the Group has expanded its network of stores and developed its e-commerce channels.

Its 99 directly operated stores run under the OPTIblu, Optiplaza and O51 brands.

The Group employs more than 650 people, including optometrists.

The transaction is currently pending regulatory approvals.