EMK Capital has acquired an interest in the newly formed EyeCare Group, a high-end optical retail chain with approximately 100 stores in the Netherlands.
The group consists of a merger of eight independent family businesses, being Bril In Mode, Briljant Group, City Lens group, EyeCare, Iris Optiek, Saton Optiek, Van der Leeuw Optiek and Verhoeven Group. The individual companies within the group will work together with the aim of further professionalizing their companies and enabling them to grow further. The group of companies is the market leader in the higher segment of the Dutch optical and hearing retail and has the ambition to further expand this position. In addition to the synergy benefits to be achieved, the acquisition ensures that the EyeCare Group can make a professionalization in the field of digitization and innovation.
Rob van der Leeuw, previous owner of Van der Leeuw Optiek and Non-Executive Director of EyeCare Group, explains: “I am very enthusiastic about the future collaboration between the joint optical companies, the management and EMK Capital. EyeCare Group is the first major player in the higher segment of optical companies with national coverage. In addition, the group has the financial resources to become a data-driven organization with a fully integrated omnichannel strategy. Ultimately, we aim to provide our employees with opportunities to increase their professional knowledge, let our customers experience premium eye care and provide them with personalized and innovative products. In addition to organic growth, we also see plenty of opportunities to further expand the number of stores through acquisitions.”
Lindenaar & Co advised the shareholders of the eight companies throughout the acquisition process. The activities included reaching mutual agreements between the participants, assisting in the joint strategy and formation of the management of the new combination, drafting the information memorandum in which the joint new company was presented, managing a competitive process with a relatively large number of interested investors, structuring the transaction, assistance with the (vendor) due diligence investigation and the final negotiations with regard to the share purchase and the shareholder agreements.