EssilorLuxottica swoops for Vision Express owner GrandVision

EssilorLuxottica has confirmed that it is talks to buy over a quarter of the shares in GrandVision N.V. part of HAL Holding N.V.

The deal would see the frame and lens giant created by Essilor and Luxottica acquire 7,000 optical outlets around the world. In the UK GrandVision owns the Vision Express chain which has 600 stores across the country.

The firm stressed that no conclusion to discussions had been arrived and no guarantee of a deal could be made. Any agreement would be subject to the usual regulatory approvals across the jurisdictions covered by the assets bought. A purchase price of Euro 28 per share has been discussed but this will be reviewed as the talks continue.