GrandVision completes acquisition of additional 30% stake in Visilab

Schiphol, the Netherlands - 2 October 2017. GrandVision N.V. has today completed the increase of its shareholding in Visilab S.A., from 30% to 60%.

Visilab, a leading optical retailer in Switzerland, was founded in 1988 and operates 98 stores across the country. Visilab reported 2016 net revenues of 173 million CHF and has more than 900 employees. 

Visilab will be consolidated in GrandVision's financial statements and reported in the "Other Europe" segment as of 2 October 2017.

GrandVision has been a shareholder in the company since 2007. As part of this agreement, the parties have agreed that GrandVision's shareholding will increase, in two steps, to 79% in 2019.