EQS-Adhoc: Fielmann Group AG: Fielmann Group acquires Shopko Optical

10.06.24 15:16 Uhr

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EQS-Ad-hoc: Fielmann Group AG / Key word(s): Expansion/Takeover
Fielmann Group AG: Fielmann Group acquires Shopko Optical

10-Jun-2024 / 15:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Fielmann continues US expansion with further acquisition  

Fielmann USA Inc., New York, USA, a wholly-owned subsidiary of Fielmann Group AG, Hamburg, Germany, has today entered into an agreement to acquire 100% equity ownership in Shoptikal Topco, Inc. (Shopko Optical), Green Bay, Wisconsin, USA. The seller is Shoptikal Parent Holdings, L.P., Green Bay, Wisconsin, USA, whose majority shareholders are funds advised by Monarch Alternative Capital, New York, USA. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions, including receipt of any necessary regulatory approvals. The acquisition of the shares is based on a valuation of the equivalent of approximately US$ 290 million. 

Shopko Optical is an optical retailer operating more than 140 stores across 13 US states. Upon closing, Fielmann USA Inc. intends to integrate Shopko Optical into its omnichannel platform that, following the completion of the transaction, would serve customers via digital sales channels and more than 220 retail practices across 19 US states. 



End of Inside Information

Information and Explanation of the Issuer to this announcement:

Fielmann Group acquires Shopko Optical, expands in Upper Midwest
Next step in German family business’ plans to empower US eyewear customers

HAMBURG, GERMANY / DETROIT, MICHIGAN & GREEN BAY, WISCONSIN, USA – 10 June 2024 The Fielmann Group, a leading global eyewear provider, today announced that it has entered into a definitive agreement in which its US subsidiary, Fielmann USA, will acquire 100% equity ownership in Shopko Optical, an optical retailer based in Green Bay, Wisconsin, from Monarch Alternative Capital LP. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions and regulatory approvals.

Shopko Optical has been a leader in providing trusted eyecare to communities for over 40 years. The company operates more than 140 stores across 13 US states and generated US$168 million in sales in 2023. Upon closing, Fielmann USA intends to integrate Shopko Optical into its omnichannel platform that, following the completion of the transaction, would serve customers via digital sales channels and more than 220 retail practices across 19 US states, predominantly in the Midwest.

The transaction marks another milestone for the Fielmann Group’s growth strategy in the US. In 2023, it entered the market by acquiring online eyewear retailer Befitting as well as SVS Vision, an optical retailer that operates 80 stores across 9 US states with a market-leading position in Michigan.

Marc Fielmann, CEO of the Fielmann Group: “Fielmann’s purpose is to help everyone hear and see the beauty in the world. Our acquisition of Shopko Optical is in line with our Vision 2025 growth strategy to expand our business further internationally, particularly in the US market. This acquisition is the next step in our long-term plan to re-define what US consumers can expect of eyecare and eyewear.”

Lukas Ruecker, CEO of Fielmann USA, Inc.: “Over its 50-year history, the Fielmann Group has helped shape the European eyewear market with its signature customer-centricity. Having integrated recent acquisitions, SVS Vision and Befitting, Fielmann USA today offers a unique omnichannel shopping experience for customers with vision insurance. The addition of Shopko Optical is going to enable us to make affordable quality eyewear and eyecare accessible to more people across the Midwest.”

More information on the transaction and US strategy will be provided during Fielmann Group’s Annual General Meeting on 11 July 2024.

Hamburg, Germany – 10 June 2024

Fielmann Group AG
The Management Board

About Fielmann Group AG
The Fielmann Group is a German family business that serves 28 million customers with eyewear, contact lenses, hearing aids and primary eyecare services. It operates an omnichannel platform consisting of digital sales channels and more than 1,000 retail stores worldwide. Founded in 1972, the company is led by Marc Fielmann, representing the second generation of the Fielmann Family who still owns the majority of the company’s stock. By staying true to its customer-centric values, the Fielmann Group helps everyone hear and see the beauty in the world. Thanks to the dedication of its 23,000 people worldwide, the company is consistently reaching customer satisfaction and retention rates of more than 90% and has to-date fitted more than 200 million pairs of individual prescription glasses.

About Shopko Optical
Shopko Optical (Shoptikal Topco, Inc.) is an optical retailer operating more than 140 stores in Idaho, Illinois, Iowa, Michigan, Minnesota, Montana, Nebraska, North Dakota, Ohio, South Dakota, Utah, Washington and Wisconsin. The company generated US$168 million in sales in 2023. At year-end, 1,087 employees were driving the growth of Shopko Optical.

Pictures
Find high-resolution pictures for download at https://www.fielmann-group.com/en/news/
The images are free for editorial use in context with Fielmann.

Further information
Katrin Carstens · Director Communications & Public Relations · press@fielmann.com · +49 40 270 76-5907
Ulrich Brockmann · Director Investor Relations · investorrelations@fielmann.com · +49 40 270 76-442


10-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Fielmann Group AG
Weidestrasse 118 a
22083 Hamburg
Germany
Phone: +49 40 270 76-0
Fax: +49 40 270 76-390
Internet: www.fielmann-group.com
ISIN: DE0005772206
WKN: 577220
Indices: SDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1921651

 
End of Announcement EQS News Service

1921651  10-Jun-2024 CET/CEST

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