Specsavers invests in vision of Scandinavia

Its purchase of Sweden's 34-strong Blic chain in a £3.3m deal follows the successful expansion of the Guernsey-based business into the continent with its Netherlands-based Specsavers Opticiens group.
In Sweden the aim is to double the number of Blic outlets within three to five years Ð with 150-200 new jobs being created Ð and to eventually be the market leader.
A total of 30 out of the 34 outlets acquired are run as franchises, and Specsavers has bought the business from holding company Optimum Optik. In a statement on the sale it was announced that Blic would keep its name 'until further notice'.
Reidar Bakker, director of international business development for Specsavers said the 'entrepreneurial culture and franchise structure are an excellent fit with our own. Our approach will be to build on the expertise of the Blic management and franchisees to develop our concept of affordable eye care in a way that meets the needs of the Swedish consumer.'
Optimum Optik has called an extraordinary shareholders meeting to agree the deal and the transaction is expected to be closed by April 16.
Specsavers reported robust financial figures for 2003-2004 earlier this month (News, March 12) with like-for-like sales up almost 9 per cent to £545m.
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