MONTREAL and NEW YORK — New Look Vision Group plans to acquire New York-based Luxury Optical Holdings
“I feel privileged to welcome the LOH team into our organization. I am in awe of LOH’s achievements of the past years, under Tim Mayhew’s corporate leadership,” said Antoine Amiel, president and CEO of New Look Vision Group. “The transaction will be a major step forward for both organizations, with particular focus on expansion – both retail and wholesale – and product development.”
Financial terms of the deal were not disclosed. New Look Vision Group is acquiring LOH from Chicago-based Monroe Capital, an $11.2 billion asset manager focused on middle market businesses. Closing is subject to customary conditions.
New Look Vision Group is the largest optical group in Canada and has been rapidly expanding in the U.S. since its acquisition of Edward Beiner in March 2020 and partnership with Black Optical in 2021. New Look Vision Group has a network of 428 locations operating mainly under the Iris, New Look Eyewear, Vogue Optical, Greiche & Scaff and Edward Beiner banners, along with a laboratory facility.
New Look Vision Group is backed by San Francisco-based FFL Partners and Montreal-based Caisse de dépôt et placement du Québec, following its go-private transaction that closed earlier this year.
LOH is the largest luxury optical retailer in the U.S., operating primarily under the Morgenthal Frederics, Robert Marc, Salle Opticians, Georgetown Optician and Leonard Opticians retail banners. LOH has a network of 34 locations, including a presence in markets such as Manhattan, Los Angeles, Miami, Washington, DC, Atlanta, Chicago and Aspen.
In addition, the Company continues to expand its atelier that designs and manufactures small production batches of the highest quality buffalo horn, titanium, acetate and slate eyewear in the finest factories in Germany, Japan and France. LOH exclusively distributes Robert Marc, Lunor and Morgenthal Frederics brands to hundreds of high-end independent eye care professionals across North America.
New Look Vision Group plans to continue LOH as a standalone business unit under the leadership of Mayhew and plans to retain head office and senior management personnel in current roles.
“I am proud to be joining forces with New Look Vision Group and creating the largest collection of luxury optical stores,” said Mayhew, CEO of LOH. “LOH partners with the best independent eyewear designers and opticians and is grateful to be part of this community. Antoine Amiel and I share a belief that eyewear is the most important luxury accessory and I look forward to working with him to build a premium global optical company.”