GrandVision enters into agreement to acquire For Eyes

GrandVision - the global leader of optical retail which operates in 43 different countries with over 5,600 stores - has signed a binding agreement to acquire 100% of the shares in the U.S. based optical retail chain For Eyes. For Eyes was founded in 1972, employs approximately 1,000 people and operates through a network of 116 owned stores. These are located mostly in the metropolitan areas of Chicago, Washington DC and Philadelphia, as well as in Florida and California. Revenue in 2014 was approx. 100 million USD. The closing of the transaction, which is subject to customary conditions, is expected to take place in the fourth quarter of 2015. The financial terms of this transaction have not been disclosed.