Bath-based eyewear designer and distributor, Inspecs Group, has agreed to acquire Eschenbach Holding GmbH for €95m.
Eschenbach – based in Nuremberg, Germany – has two divisions: one focused on designing and distributing eyeglass frames and sunglasses and one on designing, manufacturing and distributing speciality optics products and low vision technologies. In 2019, the company reports having sold around 3.6 million frames.
Funds advised by Equistone Partners Europe stated they have agreed to sell their majority stake in Eschenbach Holding in the deal.
Inspecs Group said the acquisition represents a key strategic step in the company’s growth as a global eyewear firm. Eschenbach has an established presence in the US and continental Europe, alongside a portfolio of more than 15 in-house and licensed brands. The deal will bring 250 sales people into the group.
Commenting on the acquisition, Robin Totterman, Inspecs CEO, said: “We are delighted to have agreed to acquire Eschenbach, Germany’s number one eyewear company which in turn owns one of the leading eyewear companies in the USA, Tura. As a high-quality business with a strong management team and track record of margin-accretive growth, Eschenbach represents the ideal fit for Inspecs.
“Moreover, it will enable the group to penetrate key global markets, broaden our customer reach, strengthen our brand portfolio and capitalize on the compelling structural opportunities that exist in the fragmented global eyewear market.”
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