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Grandvision to acquire Tesco's British optician chain
April 19, 2017 / 7:48 AM / 5 months ago

Grandvision to acquire Tesco's British optician chain

AMSTERDAM (Reuters) - Dutch eyeglass store operator Grandvision (GVNV.AS) said on Wednesday it will acquire Tesco’s (TSCO.L) chain of more than 200 opticians.

The deal will increase the number of stores Grandvision operates in the United Kingdom and Ireland to nearly 600, the Dutch company said in a statement.

Tesco Opticians employs more than 1,500 people and had revenues of approximately 90 million pounds in 2016. No financial details of the transaction were disclosed.

The deal is expected to be completed in 2017 pending regulatory approval, said Grandvision, which also owns the Vision Express and GrandOptical chains.

Reporting By Anthony Deutsch; Editing by Susan Fenton

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