RANCHO CORDOVA, CA — VSP Global announced that it plans to acquire San Antonio, TX-based Visionworks, which has more than 700 stores in nearly 40 states.
Financial terms of the deal were not disclosed.
“This transaction is highly complementary to our business and marks a significant leap forward in continuing to fulfill our vision to provide access to affordable, high-quality eye care and eyewear to more people,” said Michael Guyette, president and CEO of VSP Global. “With expanded nationwide access, we’ll provide our clients and members with an option for a more substantial, consistent and sustainable retail experience, further enhanced by the professional care of VSP network doctors.”
Visionworks CEO Pete Bridgman said, “We are aligned with VSP’s values and our shared commitment to help people see. Grounded in our passion to deliver affordable quality eye care in a simple way, and strengthened by our new partnership with VSP, we will focus on advancing patient care and accessibility.”
Gordon Jennings, OD, VSP Global board chair, said, “The Visionworks acquisition, once closed, will position VSP to meet expectations of our clients and to grow membership. Together, we will be able to provide greater access for our members.”
The transaction will close as soon as the necessary regulatory approvals are obtained.