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New Look Vision Group Completes Acquisition of IRIS

Montreal, Quebec: New Look Vision Group Inc. announced that it has completed the acquisition of all of the shares of Iris, The Visual Group (1990) Inc. As previously announced on Infoclip.ca, the purchase price is $120 million on a cash-free and debt-free basis, subject to customary post-closing price adjustments. Based in Laval, Quebec, Iris has a network of 147 locations across Canada. It is estimated that the combined entity will have annual system-wide revenues exceeding $315 million, estimated consolidated revenues exceeding $265 million and a store network of 379 locations. It is the largest Canadian integrated retail optical company in a fragmented optical retail industry characterized by competition from other optical retail chains and independent operators, as well as vertically integrated business models, warehouse stores, supercenters and online retailers.

New Look Vision financed the acquisition though an increase to its senior secured term facility with its bank syndicate, a new junior unsecured debt facility and the private placement of 1,616,000 subscription receipts at a price of $30.94 per subscription receipt. These subscription receipts are exchangeable today for 1,616,000 Class A common shares of New Look Vision. As a result thereof, 15,439,260 Class A common shares of New Look Vision are currently issued and outstanding.

Click HERE for full press release.

 

Bright Optical Brings Prokera Corneal Bandages to Canada

Bio-Tissue, Inc., a business unit of TissueTech, Inc., announced a strategic agreement with Bright Opticalto help bring its PROKERA® biologic corneal bandage devices to the Canadian eye care professional’s market.

Eye doctors around the world use PROKERA biologic corneal bandage devices for use in healing and treating corneal involved dry eye, keratitis, recurrent corneal erosions and other ocular surface diseases. The PROKERA products – PROKERA Slim, the original PROKERA, and PROKERA Plus – are the only therapeutic devices cleared by Health Canada that simultaneously reduce inflammation and promote regenerative healing of the ocular surface.

Paul Salsberg, President of Bright Optical said, “Bright Optical is pleased to build upon our successful relationship with Bio-Tissue, and help to bring PROKERA to Canadian eye care professionals. Bio-Tissue took great steps in bringing this product to the Canadian market and gaining Health Canada approval, which is significant in enabling our company to begin promoting the sale of PROKERA in Canada. We are very excited about the opportunity this provides to eye care professionals and patients throughout Canada for the treatment of ocular surface disease.”

Click HERE for the full press release.

 

Safilo and Rebecca Minkoff Announce New Eyewear Licensing Agreement

Padua/New York – Safilo and Rebecca Minkoff, the US industry leader in attainable luxury handbags, accessories, and apparel announce their new licensing agreement for the design, manufacturing and distribution of the Rebecca Minkoff collections of sunglasses and optical frames. The agreement will run for seven years through December 31, 2024 and the scope will be worldwide.

The brand’s first sunglass collection will be launched in the fourth quarter of 2018, followed by an optical collection in January 2019.

The Rebecca Minkoff women’s eyewear collections will be distributed on the brand’s e-commerce site www.rebeccaminkoff.com and in boutiques, department and sunglass specialty stores, and better optical stores worldwide.

Click HERE for the full press release.

 

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