S&C Advises EssilorLuxottica on €5.5 Billion Majority Investment in GrandVisionJuly 14, 2021
EssilorLuxottica, the world's largest eyewear company, completed its €5.5 billion acquisition of Hal Investments' interest in GrandVision, which was announced in August 2019. The acquisition gives French-Italian EssilorLuxottica an almost 77 percent ownership interest in the Netherland's GrandVision, a leader in optical retail.
S&C separately advised on the divestiture by GrandVision of its Chilean business, a deal required by Chilean market regulator Fiscalía Nacional Económica in order for the EssilorLuxottica acquisition to proceed.
With the completion of the acquisition, EssilorLuxottica will launch a mandatory cash public offer for all remaining shares in GrandVision. EssilorLuxottica also plans to expand its optical retail platform, primarily in Europe, by adding more than 7,200 stores globally and more than 37,000 employees.
The S&C team is led by London partners Richard Pollack and Oderisio de Vito Piscicelli, and Paris partner Gauthier Blanluet.