Transaction Details

December 11, 2018
Zurich, Munich

Sector

Consumer, Retail, E-commerce and Leisure, Healthcare

Deal Type

M&A

Deal Value

N/D

Deal Team

Moritz von Bodman, Madeleine Jahr, Thomas Egli, Jan Niklas Greim-Kuczewski, Nicholas Borchard, Christian Rodemer

GCA Altium advises Vendis Capital on the sale of eyes + more to 3i backed Hans Anders

GCA Altium acted as exclusive financial advisor to Vendis Capital, the founders and the managers on the sale of innovative optical retailer eyes + more to 3i-backed Hans Anders, the market leading value-for-money optical retailer in Benelux and Sweden.

eyes + more operates 170 stores in Germany, the Netherlands, Belgium and Austria. By applying a value-for-money strategy based on simple and transparent all-in prices, eyes + more is able to market prescription eyewear similar to fashionable accessories, a concept that differs significantly from competitors.

The company was founded in the Netherlands in 2005, with Vendis Capital acquiring a majority stake in 2010. Michiel Deturck, Partner at Vendis Capital, said: “During our investment period, the company has more than doubled in size and profitability through fast organic growth. It was a privilege to help the founders and the management to develop this innovative concept and to support its international roll-out in four countries. We strongly believe in the concept’s innovativeness and are convinced that by joining forces with Hans Anders the company is well placed to continue its successful growth story.”

By acquiring eyes + more, Hans Anders is expanding its footprint to five countries, thus creating a European optical retail platform. Hans Anders plans to continue to roll-out the eyes + more concept. Bart van den Nieuwenhof, CEO of Hans Anders: “eyes + more is a great strategic fit for Hans Anders and the acquisition will transform our company into a European platform, making it the leading North-West European optical retailer in the growing value-for-money segment.”

Moritz von Bodman of GCA Altium commented: "We are delighted to have advised Vendis Capital, the founders and the management team of eyes + more on this transaction. With its unique customer proposition, eyes + more represents an exceptional addition to Hans Anders. We are convinced that both companies will continue their successful growth track record to become one of the leading international optical retail platforms in a highly attractive market segment."

Terms of the transaction were not disclosed, and the transaction is subject to customary approvals from competition authorities.

This transaction is GCA Altium’s latest in the retail and consumer sector, having recently advised Ardian on the sale of ADA Cosmetics to Moonlake Capital, BELViNi on its sale to Oetker Group, the Unternehmensgruppe Theo Müller on the sale of Nordsee to Kharis Capital, Watchfinder&Co on its sale to Richemont and parfumdreams on its sale to Douglas.

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