The market leader among opticians in Germany is expanding to southern Europe: Fielmann joins a Spanish optician chain. The purchase price is in the three-digit million range.
Fielmann buys a large part of the Spanish optics chain Óptica & Audiología Universitaria. 80 percent of the Spanish chain would be taken over on December 31, the company announced on Thursday in Hamburg. According to the information, Spain is the 15th European market for Fielmann.
Company boss Marc Fielmann told the “Handelsblatt”: “We want to enter a new market every year.” The company did not name a purchase price. The “Handelsblatt” quoted negotiating groups that Fielmann had paid 185 million euros.
According to Fielmann, Óptica is the third largest chain in Spain with sales of around 400,000 glasses and sales of more than 100 million euros in the 2019 financial year. The family company currently operates 80 branches and employs more than a thousand people.
Fielmann already operates almost 800 branches in 14 European countries and, according to its own information, has more than 25 million customers. In 2019, the company with more than 21,000 employees generated sales of 1.76 billion euros and a profit before taxes of almost 254 million euros.