UK online optical company MyOptique Group raised €28m (£20m) in funding to make two acquisitions.
– German eyewear business 4Care, which sells prescription glasses, contact lenses and sunglasses through its website Lensbest.de, its wholesale operation Acumed and popular brands Lennox Eyewear and Lenscare, and
– UK online eyewear business Eyewearbrands, which offers more than 75 designer labels for men and women, including Dior, Oliver Peoples and Miu Miu.
The deals, whose amount was not disclosed, were part of MyOptique Group’s expansion strategy designed to further strengthen the company’s leadership within the major European markets across all eyewear product categories – prescription glasses, contact lenses and sunglasses.
The new companies join Glasses Direct, Sunglasses Shop, LensOn, MyOptique and Netzoptiker in the group retail brand portfolio. The combined businesses, led by will have served a total of 3m customers and are expected to generate €100m (£71m) of Gross Retail Sales in the current year.
The group is led by CEO Kevin Cornils.
Backers in the round included existing investors (among them, Acton Capital Partners, Beringea, Cipio Partners, Highland Capital Partners, Index Ventures and Korys) who were joined by Harbert European Growth Capital and Amery Capital.