FFL Partners and CDPQ Complete Acquisition of New Look Vision
Thursday, May 27 2021 | 11 h 51 min | Acquisitions, News, Press Release
New Look Vision Group announced the completion of the transaction under which FFL Partners, Caisse de dépôt et placement du Québec (CDPQ), and the Dr. H. Doug Barnes Family have acquired all of the outstanding Class A common shares of the Company for $50.00 in cash per Share, other than certain Shares held by certain shareholders who received, in respect of such Shares, consideration consisting of common shares of the purchaser.
“We look forward to working together with our new partners to take New Look Vision to the next level of growth and add value for our customers, partners and employees across North America,” said Antoine Amiel, President and Chief Executive Officer of New Look Vision.
FFL has a strong track record of investing in and building leading eyecare and optical retail businesses, including Eyemart Express, the second largest independent, value-focused optical retailer in the U.S.; and EyeCare Partners; one of the leading vision care providers and a former portfolio company of FFL.
CDPQ supports companies to grow, expand internationally, and accelerate their technological turn, while investing in projects that produce a more sustainable economy. CDPQ’s diverse presence in the health care services sector includes a previous investment in New Look Vision in 2019.
The Plan of Arrangement was originally announced on March 18, 2021.
As a result of the completed transaction, the Shares of New Look Vision are expected to be delisted from the Toronto Stock Exchange (the “TSX”) at the close of trading on May 28, 2021.
Click HERE for the full press release.
