EL buys 174 vision stores in Italy through aquisition
In a just approved deal between EssilorLuxotica, it's recently purchased subsidiary Grandvision, and competitor Vision Group, Grandvision will sell its control in the VistaSi vision chain and all 75 GrandVision stores in Italy to competitor Vision Group. This sale follows the merger directive of the European Commission back in March 2021. The sale will take place in Q1 2022.
Competition|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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