Online glasses retailer MyOptique has been sold to the French eyewear giant Essilor.
MyOptique, whose brands include the Sunglasses Shop and Glasses Direct, will leverage its new parent company’s global supply chain and collaborate with its other operating businesses to increase its reach across Europe, the company said yesterday.
Glasses Direct, which was founded in 2004, was the first company to take prescription eyewear online, though MyOptique provides products across all categories, including glasses, contact lenses and sunglasses.
The company was sold by a ream of private equity investors, including Highland Capital Partners, Korys and Acton Capital Partners. It has annual revenues of around £57m.
“This transaction represents a major milestone for the MyOptique Group,” MyOptique chief executive Kevin Cornils said.“Our new ownership provides a tremendous platform from which to continue to build a very successful business on our proven multi-category, multi-brand model.”
The financial details of the deal were not disclosed.