LONDON, February 23, 2016 /PRNewswire/ --
Vision Direct Group Ltd ("Vision Direct"), Europe's leading online contact lens retailer, with sales of around £33 million in 2015, announces today that it has been acquired by Essilor International, the world leader in ophthalmic optics.
The management of Vision Direct will remain in place, and will leverage Essilor International's capabilities to continue growing the Vision Direct business, through broadening its optical products offering and further geographic expansion.
Michael Kraftman, CEO of Vision Direct, commented:
"This transaction represents a major milestone for our business. Our new ownership provides a platform from which to rapidly extend the base of customers we serve with a wider range of vision products. My management team and I are really excited by the opportunity afforded from becoming part of the Essilor family."
Vision Direct was a privately held, institutionally backed business. Shareholders who sold their shares in this transaction include Octopus Titan VCT plc, Fidelity UK Smaller Companies Fund and Artemis VCT plc.
Sonenshine Partners served as financial advisor to Vision Direct on this transaction while Stephenson Harwood acted as legal counsel.
Note to editors:
About Vision Direct
Vision Direct is Europe's largest online contact lens supplier, stocking over 1 million lenses from world leading brands, including Focus Dailies, Air Optix and Acuvue Moist. Vision Direct does a majority of its business in the UK and in Ireland, but is also active in several other European countries.
Vision Direct enjoys a reputation for excellent customer service and is dedicated to making the purchase of contact lenses easy, quick and affordable. It offers free, fast delivery and seven days a week customer support. Customers can order their lenses through the UK Vision Direct website, http://www.VisionDirect.co.uk, any of its six other European web properties, or by phone to any of its local language call centres. Customers can also benefit from a free repeat prescription and reminder service, and receive free eye care advice from Vision Direct's resident opticians.
Vision Direct was recently named One to Watch in the 2015 Companies to Inspire Britain report published by the London Stock Exchange.
For further information, please contact:
Michael Kraftman, CEO, Vision Direct
Address: 6 Camden High Street, London, NW1 0JH