New Look Vision Completes Acquisition of The Vision Clinic

New Look Vision Group announced that it has completed its acquisition of a majority position in The Vision Clinic (TVC). Founded in 1994 by the Nekoui family and based in Grimsby, Ontario, the business is a leading local player in Southern Ontario. TVC operates 12 retail optical clinics under The Vision Clinic banner stretching from Hamilton eastwards through to the Niagara Peninsula. The family who founded the business will remain on as minority shareholders. The purchase price for the majority position is $18.8 million, subject to customary price adjustments and was financed by New Look Vision Group with cash on hand.

Antoine Amiel, President and CEO of New Look Vision Group stated that: “We feel very privileged to welcome The Vision Clinic team into our organization and look forward to partnering with the founders. The transaction will be a major step forward for both organizations. The Vision Clinic, based in Grimsby, Ontario serves one of the fastest growing regions of Canada’s most populous province and will operate as a stand-alone business unit within New Look Vision Group. The Vision Clinic adds to New Look Vision Group’s current network in Ontario a strong platform for the consolidation of the optician-based retail segment of the Canadian optical industry. This transaction reinforces New Look Vision Group’s position as the largest Canadian retail optical company with a network in excess of 400 stores.”

Foad Nekoui, one of the founders of TVC stated that: “Since 1994 we have been faithfully serving our patients and providing them with the vision care they have come to know and expect from The Vision Clinic. A partnership with New Look Vision Group will ensure the continuity of this long-standing commitment. The motivation to retain a minority ownership position is driven by the advantages we see of partnering with a company who is committed to the advancement of vision health not only in Southern Ontario, but across the country for all Canadians.”

Click HERE for the full press release.

Other related articles

Featured Posts

Silhouette’s Visionary Rimless Momentum Aurum Sets a New Trend in the Luxury Market

Inspired by fine watches and jewelry, Silhouette has designed a very special pair of premium eyewear.

Learn More

Understanding the Impact of an Inherited Retinal Disease for Canadians

FBC published a study in the Canadian Journal of Ophthalmology about the physical, emotional and practical challenges that individuals with an inherited retinal disease (IRD) face in Canada.

Read more

OGS Encourages Donations to “Light Up Their Eyes This Holiday Season”

To raise awareness of its global impact and encourage fundraising through the end of the year, Optometry Giving Sight (OGS) has kicked off its “Light Up Their Eyes This Holiday Season” campaign.

Read more

Glamourama Vol.2: A Love Story

Etnia Barcelona presents eight new acetate models of prescription glasses and five new sunglasses for its Vintage collection.

Read more

Brunello Cucinelli and EssilorLuxottica, Together for the Next Ten Years

The Solomeo Casa di Moda and EssilorLuxottica signed an exclusive license agreement that will strengthen their partnership

Read more

Silhouette’s Visionary Rimless Momentum Aurum Sets a New Trend in the Luxury Market

Inspired by fine watches and jewelry, Silhouette has designed a very special pair of premium eyewear.

Learn More

Understanding the Impact of an Inherited Retinal Disease for Canadians

FBC published a study in the Canadian Journal of Ophthalmology about the physical, emotional and practical challenges that individuals with an inherited retinal disease (IRD) face in Canada.

Read More

OGS Encourages Donations to “Light Up Their Eyes This Holiday Season”

To raise awareness of its global impact and encourage fundraising through the end of the year, Optometry Giving Sight (OGS) has kicked off its “Light Up Their Eyes This Holiday Season” campaign.

Read More

Glamourama Vol.2: A Love Story

Etnia Barcelona presents eight new acetate models of prescription glasses and five new sunglasses for its Vintage collection.

Read More

Brunello Cucinelli and EssilorLuxottica, Together for the Next Ten Years

The Solomeo Casa di Moda and EssilorLuxottica signed an exclusive license agreement that will strengthen their partnership

Read More

Silhouette’s Visionary Rimless Momentum Aurum Sets a New Trend in the Luxury Market

Inspired by fine watches and jewelry, Silhouette has designed a very special pair of premium eyewear.

Learn More

Understanding the Impact of an Inherited Retinal Disease for Canadians

FBC published a study in the Canadian Journal of Ophthalmology about the physical, emotional and practical challenges that individuals with an inherited retinal disease (IRD) face in Canada.

Read more

OGS Encourages Donations to “Light Up Their Eyes This Holiday Season”

To raise awareness of its global impact and encourage fundraising through the end of the year, Optometry Giving Sight (OGS) has kicked off its “Light Up Their Eyes This Holiday Season” campaign.

Read more

Glamourama Vol.2: A Love Story

Etnia Barcelona presents eight new acetate models of prescription glasses and five new sunglasses for its Vintage collection.

Read more

Brunello Cucinelli and EssilorLuxottica, Together for the Next Ten Years

The Solomeo Casa di Moda and EssilorLuxottica signed an exclusive license agreement that will strengthen their partnership

Read more

Silhouette’s Visionary Rimless Momentum Aurum Sets a New Trend in the Luxury Market

Inspired by fine watches and jewelry, Silhouette has designed a very special pair of premium eyewear.

Learn More

Understanding the Impact of an Inherited Retinal Disease for Canadians

FBC published a study in the Canadian Journal of Ophthalmology about the physical, emotional and practical challenges that individuals with an inherited retinal disease (IRD) face in Canada.

Read more

OGS Encourages Donations to “Light Up Their Eyes This Holiday Season”

To raise awareness of its global impact and encourage fundraising through the end of the year, Optometry Giving Sight (OGS) has kicked off its “Light Up Their Eyes This Holiday Season” campaign.

Read more

Glamourama Vol.2: A Love Story

Etnia Barcelona presents eight new acetate models of prescription glasses and five new sunglasses for its Vintage collection.

Read more

Brunello Cucinelli and EssilorLuxottica, Together for the Next Ten Years

The Solomeo Casa di Moda and EssilorLuxottica signed an exclusive license agreement that will strengthen their partnership

Read more