FIELMANN GROUP AG
Fielmann Group acquires Shopko Optical
Fielmann continues US expansion with further acquisition
Fielmann USA Inc., New York, USA, a wholly-owned subsidiary of Fielmann Group AG, Hamburg, Germany, has todayentered 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.
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Fielmann AG published this content on 10 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2024 13:31:07 UTC.
