New Look Vision Announces Roll Up Acquisition in Ontario Market
New Look Vision Group announced that its optometric division, Iris, The Visual Group has acquired substantially all of the optical assets and business of the Darryl Sher group operating six retail optical clinics in Southern Ontario; Toronto, Owen Sound, Midland, Alliston, Angus and Bracebridge, all of which will be rebranded under the Iris banner.
Antoine Amiel, President of New Look Vision stated that: “After more than a year of integrating recent acquisitions, including Iris, and de-leveraging, this transaction marks the return to our Canadian roll-up strategy, in this case led by Iris. Ontario is a key market in this growth process.”
Éric Babin, President of Iris stated that: “These clinics will be seamlessly integrated into the Iris network. Their embracing the combination of retail, eye care services and technology is perfectly aligned with the Iris model. We are very much looking forward to welcoming the amazing team of professionals at all six locations into our family.”
Darryl Sher, owner of the acquired outlets stated that: “Joining the Iris network was a logical next step that will set my clinics up for continued success in the years to come. Iris’ commitment to the advancement of eye care in Canada and strong culture are very much aligned with my core values. The decision to remain on as a minority partner in the acquired clinics was an easy one and I look forward to helping Iris in its stated objective of growing its presence in Canada’s most populous province.” Source: New Look Vision Group