MONTREAL — New Look Vision Group Inc. announced that it has completed the acquisition of Miami-based Coco Lunette Holding LLC, which operates mainly under the Edward Beiner banner.
The deal was announced in December. Financial terms were not disclosed.
Based in Miami, the Edward Beiner Co. has 12 locations across Florida. Its current annualized revenues are $11.35 million and it will continue to operate as a standalone unit within New Look Vision.
Antoine Amiel, president and CEO of New Look Vision, said, “We are pleased to announce the closing of the Edward Beiner Company transaction, following a period of strong cooperative effort by both New Look Vision and Edward Beiner Company management.
“We are very much looking forward to working with the Edward Beiner Company team to grow our presence in the U.S. retail optical market. This transaction brings our total store network to 394 locations across North America as we proceed to further implement our corporate strategy for growth and development.”
This transaction marks the first time a Canada-based retail optical company has acquired an eyewear retailer in the U.S., according to a December press release from New Look Vision.