Specsavers targets Australian market

Specsavers is understood to be entering the Australian retail optical market through the acquisitions of a buying group for independents.

News that Specsavers had plans to buy the Melbourne-based buying group Optovision was splashed across four pages of Insight, the leading Australian optometric newspaper.

The report claimed that Specsavers had plans to buy-out the 15 founding members of Optovision using two Australian Specsavers subsidiaries. The story was confirmed by various industry sources although no deal had been signed as Insight went to press.

Optovision has grown rapidly since being set up in 2004. In July 2005 it started operating its marketing and buying services. In the first month 65 practices were using the service and this has quickly grown to over 200. Optovision has 15 founding shareholders/directors and 200 shareholder members who buy various products from it plus other non-member buyers.