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.
An excellent opportunity exists to purchase the business and assets of a well-established festival business that has built up a successful annual festival in the South East of England. Offers invited.
LEASEHOLD
A sale will be executed at the earliest opportunity. All expressions of interest must be registered by no later than 22 July 2020. An excellent opportunity exists to purchase the business and assets of a well-established commercial lighting contracto...
LEASEHOLD
An opportunity to acquire a UK-based telecoms and IT multi-layered services provider delivering leading edge services to contracted telecoms partners. Successful model operating for over 17 years, in 3 different countries. Significant professional fr...
|
10
|
|
Jul
|
Mobile phone supplier and recycler goes into administration | ADMINISTRATION
Mobile phone refurbishment company Redeem UK has gone into a...
|
09
|
|
Jul
|
John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS
Department store chain John Lewis has said that eight of its...
|
09
|
|
Jul
|
Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS
Chancellor Rishi Sunak has announced a £30 billion pla...
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