Innova Capital to acquire 100% stake in Optiplaza
Innova Capital, a CEE private equity firm will become a shareholder in Optiplaza, one of the top players on the Romanian optical market. The transaction marks further stronger entry of the fund into the attractive and growing optical market.
Innova Capital has signed an agreement to acquire 100% of shares in Optiplaza S.R.L. 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 #2 player in the Romanian optical retail market. The company owns two retail chains of eyewear with 42 stores nationwide, i.e. 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 finalized, which will follow the approval of the Competition Council.
Optiplaza is one of the leading retailers on the Romanian optical market. Founded in 2004, the company provides a large variety of eyecare products and services. The company has more than 40 stores well-spread across the country operating mostly in shopping malls in Bucharest and main cities in Romania.