Wed, 19 Apr 2017 | BUSINESS SALE
Tesco is to sell its in-store optician business to Vision Express in a deal expected to complete this year.
The supermarket chain has 206 optical outlets in the UK, three in Ireland as well as an online operation. Financial terms were not disclosed.
Tesco, which opened its first opticians in Peterborough in 1998, said around 1,500 staff will transfer over to Vision Express under Tupe legislation following a consultation.
The deal will increase Vision Express’s outlets to 598.
Tesco said the deal will “simplify and strengthen” its UK business. Its opticians business posted revenues of around £90 million in 2016.
Matt Davies, Tesco’s UK and Ireland CEO, said: “This allows us to further simplify and strengthen our UK business and ensures our customers are still able to enjoy high quality eye care services from Vision Express in our larger stores.
“Our priority now is to work with our colleagues and support them through this change.”
Vision Express CEO Jonathan Lawson said “This is a really exciting time for Vision Express and provides us with the opportunity to invest in the future of the nation’s eye health by extending our reach even further across the UK.
“With two million people in our country living with preventable sight loss, this expansion will help us continue to increase awareness of the importance of taking vision seriously.”
The sale is subject to approval by the UK Competition and Markets Authority.
Find medical and educational businesses for sale.
Highly respected brand within core operational sectors, with almost 30 years of successful trading. Predominantly works with OEMs and MRO distributors, producing a wide range of bespoke components, as well as an ‘off the shelf’ catalogue range. Offer...
FREEHOLD
The business is split into two parts, The Village Bakery, which bakes bread, cobs, rolls, cakes, sausage rolls, pasties, pies etc and sells them retail through The Bakers Shop and wholesale to companies in the local area. The Bakers Shop has many reg...
FREEHOLD
A well-established and respected name within the industry and are designers, manufacturers and installers of shop and factory signs as well as vehicle graphics, exhibition material, flags and flagpoles, labels, CNC machining, Flat bed and roll to rol...
LEASEHOLD
|
20
|
|
Aug
|
EAG construction business snapped up by Elaghmore | BUSINESS SALE
English Architectural Glazing Limited (EAG) has been snapped...
|
19
|
|
Aug
|
Childcare entrepreneur boosts portfolio with Liverpool acquisition | BUSINESS SALE
The Griffin Nursery, a children’s day nursery in Bootl...
|
15
|
|
Aug
|
Payroll and HR companies acquired by software group | BUSINESS SALE
IRIS Software Group has finalised the agreement of intent to...
Sign up to receive our acquisition alert emails to get your FREE guide
|
14
|
|
Mar
|
Outsourcing giant plans £700m asset sale | DIVISION SALE
One of the country’s largest outsourcing players, Capi...
|
27
|
|
Jan
|
Tesco acquires Budgens and Londis owner Booker for £3.7bn | BUSINESS SALE
UK supermarket giant Tesco is to buy food wholesaler and con...
|
20
|
|
Jun
|
Tesco speculated to be selling coffee shop chain Harris + Hoole | DIVISION SALE
With the sale of the Dobbies Garden Centres chain announced ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources