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Innova Capital to buy Romania's Optical Network

Innova Capital to buy Romania's Optical Network Romania

BUCHAREST (Romania), July 12 (SeeNews) - Warsaw-based private equity firm Innova Capital Central said it plans to buy Romanian optical retailer and distributor Optical Network.

Innova said it will follow through with plans for further development of Optical Network, including ongoing improvement of the product offering and customer experience, as well as expansion of the current retail network and distribution business, it said in a press release on Thursday.

Optical Network’s retail operations are complemented by its distribution activities that are based on well-established relations with local optical stores and an attractive portfolio of brands and products, Innova Capital said.

The transaction is pending the approval of Romania's anti-trust body.

Optical Network was set up in 2004 and now operates a nationwide network of 55 stores under OPTIblu and Klarmann brands.

The company also operates two e-commerce stores in Romania as part of its omnichannel approach to customers.

Through its retail business, the company provides a diverse and balanced portfolio of  products, including prescription glasses, contact lenses, sunglasses and eye care accessories.

Innova Capital is a mid-market private equity firm focused on Central and Eastern Europe (CEE). Founded in 1994, Innova raised the first major CEE fund comprising entirely of private capital. Since then Innova has invested  860 million euro ($969 million), in almost 50 companies, across ten countries in the region.

($=0.8872 euro)