13 October 2017
The Competition and Markets Authority (CMA) has agreed in principle to give the go ahead to Vision Express on the multiple’s planned purchase of 209 Tesco Opticians stores.
In September, the CMA raised concerns that Vision Express would not face sufficient competition in three local areas after the deal is completed. It gave the multiple until 5 October to address the issue.
Vision Express said that the three sites in the areas identified by the CMA will be divested to a new owner.
The CMA announced on 11 October that the solutions offered would be accepted under the Enterprise Act 2002.
Chief executive officer of Vision Express, Jonathan Lawson, told OT: “We are pleased the CMA responded positively to our undertakings in the areas of Barrow-in-Furness, Helston and Ryde.”
The CMA were concerned that customers in these areas could face price increases or a reduction in the choice of the products and services in-store.
“All affected team members will be protected by transfer of undertaking (protection of employment) regulations, with their employment being transferred to a new optical retailer,” Mr Lawson added.
He also said that ahead of the CMA’s final decision, Vision Express’ focus will remain on ensuring a quick and smooth transition for the benefit of its employees and customers.
GrandVision, owner of Vision Express, reported in its 2017 half-year results in August that the company expects to complete the acquisition in the final quarter of 2017, taking its total to over 598 practices.
In September, the CMA raised concerns that Vision Express would not face sufficient competition in three local areas after the deal is completed. It gave the multiple until 5 October to address the issue.
Vision Express said that the three sites in the areas identified by the CMA will be divested to a new owner.
The CMA announced on 11 October that the solutions offered would be accepted under the Enterprise Act 2002.
Chief executive officer of Vision Express, Jonathan Lawson, told OT: “We are pleased the CMA responded positively to our undertakings in the areas of Barrow-in-Furness, Helston and Ryde.”
The CMA were concerned that customers in these areas could face price increases or a reduction in the choice of the products and services in-store.
“All affected team members will be protected by transfer of undertaking (protection of employment) regulations, with their employment being transferred to a new optical retailer,” Mr Lawson added.
He also said that ahead of the CMA’s final decision, Vision Express’ focus will remain on ensuring a quick and smooth transition for the benefit of its employees and customers.
GrandVision, owner of Vision Express, reported in its 2017 half-year results in August that the company expects to complete the acquisition in the final quarter of 2017, taking its total to over 598 practices.
Comments (0)
You must be logged in to join the discussion. Log in