Innova Capital has agreed to acquire Optiplaza, a Romanian provider of eyewear. No financial terms were disclosed.
The funds managed by Innova Capital have signed an agreement to acquire 100% of shares in Optiplaza S.R.L. This is the second transaction by Innova Capital in the optical space in Romania this year. Both transactions are currently being assessed by the Competition Council and will be implemented following their clearance by the competition authority.
Optiplaza was set up in 2004 and is currently #2 player in the Romanian optical retail market. The company owns two retail chains of eyewear with 42 stores nationwide, i.e. Optiplaza and Optica Express, offering a wide range of products and brands. Most company’s sales come from the prescription glasses, contact lenses and eye care products followed by sunglasses. The company also sells optical products through its website.
Innova will follow through with plans for further development of Optiplaza, including ongoing improvement of the product offering and customer experience as well as expansion of the current retail network in Romania.
More detailed information on the strategy and plans of the fund in this sector will be presented once the transaction has been finalised, which will follow the approval of the Competition Council.
About Innova Capital
Innova Capital is one of the leading private equity firms in Central Europe investing in companies from the small and mid-sized enterprise segment. Since its inception (in 1994) to date, Innova Capital has invested nearly EUR 900 million in over 50 companies operating in 10 countries in this region. In 2010, the Unquote magazine awarded Innova the “CEE Fund of the Year Award” for its fifth fund, Innova/5. The fund was also recognised by the Polish Private Equity and Venture Capital Association (PSIK) with the 2019 Management Company of the Year title. www.innovacap.com