Vision Express owner GrandVision has announced the acquisition of Tesco Opticians.
The acquisition incorporates Tesco Optician’s network of 209 stores across the UK and Republic of Ireland, bringing the total number of Vision Express outlets to 598, a statement said.
Tesco Opticians employs over 1,500 people and had revenues of approximately £90m in 2016. Vision Express intends to retain Tesco Optician personnel, it added.
Vision Express CEO Jonathan Lawson said: ‘This is a really exciting time for Vision Express and provides us with the opportunity to invest in the future of the nation’s eye health by extending our reach even further across the UK.
‘With two million people in our country living with preventable sight loss, this expansion will help us continue to increase awareness of the importance of taking vision seriously.’
The transaction, which is subject to regulatory approval by the UK Competition and Markets Authority, was expected to complete later this year.
Lawson added: ‘We extend a very warm welcome to all Tesco Optician colleagues and customers, and together will ensure we continue to provide them with eye health expertise that is second to none. We are committed to providing a personalised customer service and providing a range of products offering excellent quality and value for money.’
Tesco UK and ROI CEO Matt Davies added: ‘This allows us to further simplify and strengthen our UK business and ensures our customers are still able to enjoy high quality eye care services from Vision Express in our larger stores. Our priority now is to work with our colleagues and support them through this change.’