New Look Vision Group Announces Acquisition of Luxury Optical Holdings
Wednesday, December 1 2021 | 10 h 26 min | Acquisitions, News, Press Release
New Look Vision Group announces today that it has entered into a definitive agreement to acquire New York-based Luxury Optical Holdings (LOH). With its existing luxury optical presence in Canada, acquisition of Edward Beiner in 2020 and previously announced partnership with Black Optical earlier this year, New Look Vision Group is now one of the leading luxury optical groups worldwide.
LOH is the largest luxury optical retailer in the United States, carrying on business primarily under the Morgenthal Frederics, Robert Marc, Salle Opticians, Georgetown Optician and Leonard Opticians retail banners. LOH has a network of 34 locations and a long-established presence in premium markets such as Manhattan, Los Angeles, Miami, Washington D.C., Atlanta, Chicago and Aspen.
In addition, the Company continues to expand its atelier that designs and manufactures small production batches of the highest quality buffalo horn, titanium, acetate and slate eyewear in the finest factories in Germany, Japan and France. LOH exclusively distributes Robert Marc, Lunor and Morgenthal Frederics brands to hundreds of high-end independent eye care professionals across North America.
New Look Vision Group plans to continue LOH, and its brands underneath, as a separate stand-alone business unit under the leadership of Tim Mayhew and plans to retain head office and senior management personnel in current roles. New Look Vision Group is acquiring LOH from Chicago-based Monroe Capital, an $11.2 billion asset manager focused on middle market businesses.
Antoine Amiel, President and CEO of New Look Vision Group, stated that: “I feel privileged to welcome the LOH team into our organization. I am in awe of LOH’s achievements of the past years, under Tim Mayhew’s corporate leadership. The transaction will be a major step forward for both organizations, with particular focus on expansion – both retail and wholesale – and product development.”
Tim Mayhew, CEO of LOH, stated that: “I am proud to be joining forces with New Look Vision Group and creating the largest collection of luxury optical stores. Antoine Amiel and I share a belief that eyewear is the most important luxury accessory and I look forward to working with him to build a premium global optical company.”
The terms of the transaction have not been disclosed and closing is subject to customary conditions.
Click HERE for the full press release.