Octopus-backed GetLenses acquires Vision Direct and Lensbase
UK online contact lens retailer GetLenses.co.uk has acquired Dutch online retailers Vision Direct and Lensbase, which sell contact lenses and prescription glasses to consumers in the Netherlands, Spain and the UK.
The acquisition was financed by a new funding round led by existing shareholder Octopus Investments and included Fidelity Worldwide Investments, Hargreave Hale and Artemis Investment Management.
The combined entity is expected to generate revenues of over EUR30m in 2014.
GetLenses is the largest online contact lens retailer in the UK, offering competitive prices and next-day delivery on an extensive range of prescription contact lenses. In addition to a broad product range and significant price savings, customers also benefit from being able to check their prescription before they purchase.
Vision Direct, which was founded in 1998, sells contact lenses and prescription glasses online in Europe.
“This cements our position as a market leader in Europe, significantly increases our customer base and enhances our ability to deliver a fantastic service to all our customers,” says Michael Kraftman, CEO of GetLenses.co.uk. “We expect to complement this with further acquisitive growth in other European markets.”
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