Italian eyewer retail chain Avanzi Holding will buy 100% of the capital of Angelo Randazzo srl, another eyewear retail chain with one thousand employees operating 101 shops in Italy with Optissimo brand and 89 corner shops in shopping centers and mall around Italy. Seller is the Randazzo family.
The deal was announced yesterday by GrandVision group, a leading worldwide optical retailer owner of Avanzi Holding (download here the press release). GrandVision in turn is controlled by HAL Holding nv, the same Amsterdam-listed investment group controlling a 41.86% stake (through HAL Investments bv) in the capital of Italian-listed Safilo group, a leading Italian manufacturer and distributor of optical frames and sunglasses.
Randazzo is closing 2014 with about 105 million euros in sales and 9 millions in ebida, MF-Milano FInanza writes today, while Avanzi Holding is reaching 97 million euros in sales and an ebtda of 7.5 millions. GrandVision group, in turn, reached 2,5 billion euros in 2013 and is active in Italy with 183 shops by Avanzi brand and 30 shops by Solaris, a brand focused on sunglasses.
Randazzo has been advised by studio Di Simone and by Unicredit as financial advisor and Studio Legale Associato NCTM ad legal advisor.
The last deal in the Italian eyewear retail sector has been Salmoiraghi-Viganò acquisition by Luxottica a couple of years ago.