Essilor of America to Acquire Vision Source US
Earlier this morning European time, Vision Source announced that it has entered into an agreement whereby Essilor of America will acquire a majority stake in the Vision Source network. Subject to regulatory approvals, the deal is expected to close over the next couple of months. Specific terms of the acquisition were not disclosed.
VMAIL reports that Vision Source’s Canadian assets, which consisted of 95 franchisees, were transferred to FYidoctors in 2013 and will continue to be managed by that company headed by CEO Alan Ulsifer, OD. Vision Source founder, Glenn Ellisor said, “Vision Source Canada is not part of the transaction. We have a marketing agreement with FYidoctors. I spoke with Al Ulsifer, and he agreed that our relationship will continue.”
In the US, according the Vision Source press release, Vision Source is expected to become a wholly-owned subsidiary of Essilor of America and will continue to be managed independently by the current management team.