EssilorLuxottica: EU Commission ok with GrandVision acquisition, will have to sell 350 stores in Belgium, Holland and Italy

The European Commission has authorized the acquisition of GrandVision by EssilorLuxottica, after a long and in-depth analysis, partly slowed down by the effects of the pandemic. However, the authorization of the operation is conditional on the sale of approximately 350 points of sale between
Belgium, Holland and Italy. In particular, in Italy, the group will have to sell 174 points of sale which includes the entire VistaSì chain of EssilorLuxottica together with 72 points of sale under the “GrandVision by” brand. The VistaSì brand will be sold and the “GrandVision by” stores will be rebranded. Now, the finalization of the transaction depends on the approval of the antitrust authorities in Chile and Turkey and remains subject to the outcome of the pending legal proceedings.