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Thread: Canadas "NEW LOOK" chain connected to Nikon - Essilor ..............................

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    Redhot Jumper Canadas "NEW LOOK" chain connected to Nikon - Essilor ..............................



    MONTREAL
    – New Look VisionGroup Inc. (TSX:BCI) has entered into an agreement to buy the Visions Optical Retail chain in British Columbia

    .
    The Montreal-based provider of eye care products and services said the purchase price, which includes Vision Optical’s 10 locations in key local markets throughout B.C., will be $6.6 million.

    Revenues for Vision Optical for the 12 months ended July 31 are estimated to be $5.2 million.

    New Look Vision president Antoine Amiel saidthe acquisition of Visions Optical provides it with a solid base for future growth in B.C., and represents another step forward towards the company’s goal of becoming a national player across Canada.

    New Look Vision currently has a network of 212stores mainly throughout Eastern Canada.

    The Vision Optical deal is expected to close on or about Dec. 1. 2016



    Employment for Mr. Antoine Amiel:


    Key Executives For Nikon Optical USA Inc.

    Mr. Antoine Amiel
    President

    Nikon Optical USA Inc. engages in the distribution of ophthalmic lenses, materials, coatings including Nikon W and Presio i progressive lenses.The company was incorporated in 2005 and is based in Melville, New York. Nikon Optical USA Inc. operates as a subsidiary of Nikon-Essilor Co.,Ltd.
    _____________________________________________


    Executive Profile
    Antoine Amiel
    Vice Chairman and President ,

    New Look Vision Group Inc.



    Mr. Antoine Amiel has been President of New Look Vision Group Inc. since June 1, 2015. Mr. Amiel serves as the President of Nikon Optical USA Inc. Mr. Amiel has been Senior Executive of Strategic Development since May 7, 2012. He served as Vice Chairman - Strategic Development of New Look Vision Group Inc. since May 7, 2012. He has over 20 years of experience in the international optical industry and for the past six years has been Executive Officer of a major international ophthalmic lens manufacturer having operations and business activities in Canada, the United States and the United Kingdom. From 1999 to 2002, he was Chief Financial Officer of Nikon Corporation’s ophthalmic division, where he participated in the creation of the finance department. Mr. Amiel has been the Vice Chairman of New Look Vision Group Inc since May 7, 2012. Mr. Amiel has a Masters (DESS) in Corporate Finance from the Université de Paris IX Dauphine.

    Source: ===========>

    https://www.bloomberg.com/research/s...ivcapId=876120

    and

    http://www.bloomberg.com/research/st...capid=49060512





    Last edited by Chris Ryser; 04-18-2017 at 05:34 AM.

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    Quote Originally Posted by Chris Ryser View Post


    MONTREAL
    – New Look VisionGroup Inc. (TSX:BCI) has entered into an agreement to buy the Visions Optical Retail chain in British Columbia

    .
    The Montreal-based provider of eye care products and services said the purchase price, which includes Vision Optical’s 10 locations in key local markets throughout B.C., will be $6.6 million.

    Revenues for Vision Optical for the 12 months ended July 31 are estimated to be $5.2 million.

    New Look Vision president Antoine Amiel saidthe acquisition of Visions Optical provides it with a solid base for future growth in B.C., and represents another step forward towards the company’s goal of becoming a national player across Canada.

    New Look Vision currently has a network of 212stores mainly throughout Eastern Canada.

    The Vision Optical deal is expected to close on or about Dec. 1. 2016



    Employment for Mr. Antoine Amiel:


    Key Executives For Nikon Optical USA Inc.

    Mr. Antoine Amiel
    President

    Nikon Optical USA Inc. engages in the distribution of ophthalmic lenses, materials, coatings including Nikon W and Presio i progressive lenses.The company was incorporated in 2005 and is based in Melville, New York. Nikon Optical USA Inc. operates as a subsidiary of Nikon-Essilor Co.,Ltd.
    _____________________________________________


    Executive Profile
    Antoine Amiel
    Vice Chairman and President ,

    New Look Vision Group Inc.



    Mr. Antoine Amiel has been President of New Look Vision Group Inc. since June 1, 2015. Mr. Amiel serves as the President of Nikon Optical USA Inc. Mr. Amiel has been Senior Executive of Strategic Development since May 7, 2012. He served as Vice Chairman - Strategic Development of New Look Vision Group Inc. since May 7, 2012. He has over 20 years of experience in the international optical industry and for the past six years has been Executive Officer of a major international ophthalmic lens manufacturer having operations and business activities in Canada, the United States and the United Kingdom. From 1999 to 2002, he was Chief Financial Officer of Nikon Corporation’s ophthalmic division, where he participated in the creation of the finance department. Mr. Amiel has been the Vice Chairman of New Look Vision Group Inc since May 7, 2012. Mr. Amiel has a Masters (DESS) in Corporate Finance from the Université de Paris IX Dauphine.

    Source: ===========>

    https://www.bloomberg.com/research/s...ivcapId=876120

    and

    http://www.bloomberg.com/research/st...capid=49060512





    Chris, the data on bloomberg probably has not been updated for quite some time. It's unlikely he would hold both high posts at the same time as it would violate corporate governance policies and quite possibly conflict of interest/confidentiality laws.

    Regarding the sale, the offer of 1.27 times the annual net revenue to acquire the chain is very fair.
    Last edited by Lab Insight; 04-18-2017 at 06:52 AM.

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    Redhot Jumper

    Quote Originally Posted by Lab Insight View Post

    Chris, the data on bloomberg probably has not been updated for quite some time. It's unlikely he would hold both high posts at the same time as it would violate corporate governance policies and quite possibly conflict of interest/confidentiality laws.


    ..............still listed as President in New York as far as I could check back.

    Updated or not he is in charge of Nikon Optical USA Inc. which operates as a subsidiary of Nikon-Essilor Co.,Ltd.

    ,,,,,,,,,,which tells me that Nikon-Essilor is now in the chain optical, retail business in Canada, by having the same boss at the steering wheel..

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    Quote Originally Posted by Chris Ryser View Post
    ..............still listed as President in New York as far as I could check back.

    Updated or not he is in charge of Nikon Optical USA Inc. which operates as a subsidiary of Nikon-Essilor Co.,Ltd.

    ,,,,,,,,,,which tells me that Nikon-Essilor is now in the chain optical, retail business in Canada, by having the same boss at the steering wheel..
    Vertical integration for large corporations is nothing new but has become more prevalent these days. Who wouldn't want to control the entire process and make decent margins at each level along the way? The shareholders certainly like it.

    It's happening in many other industries as well including dental, hearing, insurance etc... The days of market fragmentation are coming to an end.

    Other optical companies like Hoya are doing the exact same thing. They stand loud and proud behind their slogan 'ally of the independent', gloat and pretend to be everyone's friend, yet if you dig deep enough you will discover they own and operate a very large chain of optical stores under an alias that competes directly with the same ECP's they're tooting their horn to.

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    Redhot Jumper Other optical companies like Hoya are doing the exact same thing.....................

    Quote Originally Posted by Lab Insight View Post

    Other optical companies like Hoya are doing the exact same thing. They stand loud and proud behind their slogan 'ally of the independent', gloat and pretend to be everyone's friend, yet if you dig deep enough you will discover they own and operate a very large chain of optical stores under an alias that competes directly with the same ECP's they're tooting their horn to.

    ...................and just bought a lab in Winnipeg before Essilor did.

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    Quote Originally Posted by Chris Ryser View Post
    ...................and just bought a lab in Winnipeg before Essilor did.
    Because the lab was highly antiquated and priced at a bargain. They even said in the press release they will have to gut it, invest capital into new equipment, then merge it with their existing finishing lab also in Winnipeg. It will most likely be a larger finishing lab in the end and not a full service facility.

    All they really wanted on this deal was to purchase the customer base before Essilor did. If the opportunity were that enticing, believe me Essilor would have acquired it a long time ago.

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