GrandVision takeover to be investigated by European Commission

EssilorLuxottica’s takeover of Vision Express-owner GrandVision will be subject to an investigation by the European Commission.

The New York Times reports that the optical supplier declined to offer concessions to address competition concerns by the deadline of January 30.

EssilorLuxottica agreed to acquire HAL Holdings’ 76.72% interest in GrandVision in July last year, which adds over 7,200 stores globally to its portfolio, as well as an additional €3.7bn in annual revenue.

The European Commission’s preliminary review will end on February 6 before a full-scale investigation into the acquisition takes place.

GrandVision did not comment when approached by Optician, and EssilorLuxottica has not replied at the time of going to press.