News - August, 2015
Luxembourg – August 17, 2015 – MyOptique Group, a Cipio Partners portfolio company specializing in online eyewear retail, has acquired German eyewear business 4Care and UK premium online eyewear business Eyewearbrands.
The combined businesses will have served a total of 3 million customers and are expected to generate €100 million of gross retail sales in the current year. Cipio Partners originally invested in MyOptique in 2013, through acquiring the shares held by company founder Jamie Murray-Wells, and has continued to back the business and expand its stake in subsequent funding rounds in particular to finance acquisitions.
Cipio has worked very closely with MyOptique’s management to support the expansion into Germany, initially through acquisition of Netzoptiker and now with the purchase of 4Care.
The acquisitions of Eyewearbrands and 4Care were financed by the group’s existing investors who were joined in this round totaling €28 million by Harbert European Growth Capital and Amery Capital.
About MyOptique Group
MyOptique Group is revolutionising the €28 billion European optical industry by cutting out the high street middleman – and providing its customers with a superior service and significant savings. The group is the leader in the growing online European optical segment, with a full-service offering covering all three major segments in the eyewear market – prescription glasses, sunglasses and contact lenses via its websites Glasses Direct, Sunglasses Shop, MyOptique.com, LensOn, Netzoptiker, Eyewearbrands and Lensbest.de. More than two-thirds of sales are outside of the UK market. It carries over 150 brands and 7,000 styles and is one of the British Government’s ‘Future Fifty’ technology leaders.
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