SP Advises IRIS The Visual Group on Sale
SP advises IRIS The Visual Group on its sale to New Look Vision Group
Sonenshine Partners has advised one of Canada’s leading optometrist-based retail eye care chains, Iris, le groupe visuel (1990) Inc., on its C$120 million sale to TSX-listed New Look Vision Group. The strategic combination, which closed on October 24, 2017, creates the largest retail eye care chain in Canada and the 8th largest in North America.
“We are very pleased to have advised IRIS on this important transaction within the Canadian optical retail market,” said Marshall Sonenshine, Managing Partner of Sonenshine Partners.
The transaction adds to Sonenshine Partners’ long-standing track record for excellence in the Healthcare and Retail industries generally, as well as in the Optical subsector.
Experience within Optical began over 20 years ago when Mr. Sonenshine was advisor to LensCrafters, including on its merger into Luxottica. Since then, Sonenshine Partners has successfully advised numerous Optical companies across North America, Europe and Asia, including on transactions on behalf of or involving Essilor, Luxottica, ABB Optical Group, Marcolin, Menicon, Highmark, Hoya, 1-800 Contacts, WellPoint, Walgreens, Vision Direct Group Ltd., and many others.
Founded in 1990 by Dr. Francis Jean and headquartered in Laval, Quebec, IRIS has grown to become a leading optometrist-based retail eye care provider across Canada with a network of 147 locations.
About Sonenshine Partners
Established in 2000, Sonenshine Partners is a private investment bank advising major companies worldwide on mergers, acquisitions, corporate finance and restructuring transactions across multiple industry sectors. With offices in New York and London, Sonenshine Partners brings unique insights, unconflicted advice and extensive dealmaking experience to its global client base.