Latest News GrandVision Acquires McOptic, Switzerland’s Third-Largest Optical Retailer By Staff Tuesday, August 6, 2019 12:18 AM SCHIPHOL, the Netherlands—GrandVision NV (EURONEXT:GVNV) has acquired 100 percent of Graffiti Holding AG, which holds 100 percent of McOptic, according to an announcement late last week. McOptic is the third-largest optical retailer in Switzerland with an estimated market share of 5 percent via its Swiss business Visilab, the announcement noted. The terms of the transaction were not disclosed. McOptic was founded in 1998 and operates 62 stores, which are concentrated in the German speaking parts of the country, according to the announcement. In 2018, the business reported a net revenue of CHF 55 million and has more than 300 employees. GrandVision particularly values McOptic's mass-market positioning in Switzerland and intends to retain the well-established McOptic brand alongside the Visilab and Kochoptik optical retail banners, which are positioned in the mid-to-high and premium segments, the announcement noted. The addition of McOptic will enable GrandVision to strengthen its position in Switzerland by competing in all segments of the market.“We are very excited to welcome McOptic to the GrandVision family,” GrandVision chief executive officer Stephan Borchert said in the announcement. “McOptic is a highly recognized optical retailer with a very competitive value proposition. This acquisition strengthens our position in the Swiss market, as we continue to execute our strategic priorities.”Separately last week, GrandVision announced that it was supporting EssilorLuxottica (Reuters: ESLX.PA) in its plan to acquire a controlling stake in GrandVision via a deal with HAL Holding NV, GrandVision’s controlling shareholder, in a deal valued at about €7.1billion, as VMAIL reported.