3i Group plc (“3i”) today announces that Hans Anders is acquiring eyes + more, a fast growing value-for-money optical retailer in Germany with additional presence in the Netherlands, Belgium and Austria. The sellers are Vendis Capital and a group of managers and private investors. Hans Anders is the market leading, value-for-money optical retailer in the Benelux and Sweden in which 3i invested in May 2017.
Founded in 2005 in the Netherlands, eyes + more operates 170 stores, of which 119 in Germany, 33 in the Netherlands, 10 in Belgium and 8 in Austria. It sells a range of circa 800 prescription glasses and private label sunglasses. The company differentiates itself through a simple, transparent, all-inclusive pricing model, which has resulted in high customer ratings and good levels of repeat purchase. Germany is the company’s largest market, comprising 75% of sales. eyes + more has grown rapidly in recent years, largely driven by new store openings in Germany. There is significant potential for further growth as the company continues its store roll-out plan.
Germany is the largest eyewear market in Europe (€6.2bn) and has grown steadily in recent years with a CAGR of 3.1% from 2012 – 2017, driven by favourable demographics, in particular linked to an ageing population.
This acquisition expands the European footprint of Hans Anders to serve customers in five countries, creating a leading North-West European optical retail platform that is focused exclusively on the growing value-for-money segment. Going forward, the eyes + more concept will be rolled out further while procurement synergies are anticipated due to increased buying volumes.
“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. We look forward to working with our new colleagues at eyes + more.”
“This is an important acquisition for Hans Anders and fits well with 3i’s investment strategy of driving international growth in the value-for-money space. eyes + more is already a successful business and very closely aligned with Hans Anders in terms of its value-for-money positioning. It brings a strong geographical fit and an organic growth platform in the sizeable German optical retail market.”
“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. By joining forces with Hans Anders, we believe the company is well placed to continue its successful growth story.”
Email: silvia.santoro@3i.com
Email: kathryn.vanderkroft@3i.com
3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com.
Founded in 1982, Hans Anders is an international retailer of spectacles, hearing aids and contact lenses. Hans Anders, the core brand in the group, is the market leader in the Netherlands and has around 400 stores in the Netherlands and Belgium. In Sweden the group operates under the Direkt Optik brand. Hans Anders employs over 1,500 people. For further information, please visit: https://www.hansanders.com
About Nexeye
Nexeye
Headquartered in Gorinchem, the Netherlands, nexeye is a leading European provider of value-for-money eye care operating under the Hans Anders, eyes+more and Direkt Optik labels. The Group, its labels and employees, together provide affordable, high-quality eyecare and hearing care to customers across 719 stores in the Netherlands, Belgium, Germany, Austria and Sweden. Nexeye is on a mission to make good eye- and hearingcare affordable and easily accessible for everyone.
eyes + more operates with 283 stores in Germany, Austria, the Netherlands, Sweden and Belgium, focusing on affordable, fashionable eye wear and is one of the fastest-growing optical chains in Europe. Hans Anders, founded in 1982, is a leading value-for-money chain in the Netherlands and Belgium with 402 stores offering eye and hearing care. Direkt Optik has 34 optical stores across Sweden, is known for its 3 for 1 offer and highly appreciated for the expertise of the qualified opticians in its stores. In total, nexeye and labels employ more than 3,500 people (headcount).
Read more on nexeye - Value in view of the future
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- Rian van Koulil
- Director Brands & Corporate Communications
- rian.van.koulil@nexeye.com
- +31 6 126 838 24
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