EssilorLuxottica is free to acquire GrandVision following clearance by the Turkish Competition Authority (TCA). The clearance was given after EssilorLuxottica made certain behavioural commitments with regards to the conduct of its business in Turkey.
All regulatory approvals for closing of proposed transaction have now been obtained. The outcome of the transaction is still subject to the decision regarding the ongoing arbitration proceedings.
GrandVision was established in 1891 in Helsinki, Finland. Today it is a global leader in optical retail with over 39,000 employees and 7,200 stores across 40 countries. The organisation’s annual revenue is in excess of AU$5.5 billion.