Specsavers buys a second Swedish optical group

Specsavers Opticians has added to its Scandinavian presence less than three months after entering the region. The Guernsey-based business has bought a second Swedish optical group, this time Två Blå, which runs 19 optician franchises, and has annual sales of around £ 9.1m. It is an important step towards Specsavers becoming market leader in Sweden.

The deal, which was signed at the beginning of July, follows the acquisition in April of the Blic optical chain which now has 35 practices. At that time, Specsavers announced its intention to double the number of practices it owned in Sweden, from 34 to over 70, in three to five years.

Reidar Bakker, director of international business development for Specsavers, said: 'We are happy that this deal was successful because our businesses are very similar. Specsavers, Blic and Två Blå are run with franchise or joint venture partnership practices. Apart from that, Två Blå practices are very strong in their local markets and are mainly located in the north and west of Sweden, which complements Blic which has a greater presence in the south and east. It also means more opportunities for entrepreneurial practitioners who want to join us as partners'.

Två Blå was founded in 1999 from a group of eight franchisees with Blic. Today the company has 19 practices, with a head office in Sundsvall, north of Stockholm. Specsavers, one of the five largest optical retailers in the world, with more than 600 practices in the UK, Ireland, the Netherlands and Sweden, intends to continue its expansion and further acquisitions will be considered.

(Source: Optometry Online)