CEE private equity firm Innova Capital is to acquire Optiplaza, one of the major players in the Romanian optical market. The transaction marks further stronger entry of the fund into the attractive and growing optical market.
The funds managed by Innova Capital have signed an agreement to acquire 100 per cent of shares in Optiplaza. This is the second transaction by Innova Capital in the optical space in Romania this year. Both transactions are currently being assessed by the Competition Council and will be implemented following their clearance by the competition authority.
Optiplaza was set up in 2004 and is currently No2 player in the Romanian optical retail market. The company owns two retail chains of eyewear with 42 stores nationwide, ie Optiplaza and Optica Express, offering a wide range of products and brands. Most company’s sales come from the prescription glasses, contact lenses and eye care products followed by sunglasses. The company also sells optical products through its website.
Innova will follow through with plans for further development of Optiplaza, including ongoing improvement of the product offering and customer experience as well as expansion of the current retail network in Romania.
More detailed information on the strategy and plans of the fund in this sector will be presented once the transaction has been finalised.
