Fielmann Group accelerates Spanish expansion with acquisition of Medical Óptica Audición
Market leader in the Basque Country operates optical & acoustic retail, optical lens & PPE manufacturing
The Fielmann Group, based in Hamburg, Germany, announced today that it is acquiring a 100% equity ownership in the retail, wholesale and manufacturing of MFI Group, a leading optical and acoustic provider in Northern Spain. This acquisition accelerates the Fielmann Group’s expansion in Spain and reaffirms plans to reach market leadership in the medium-term. The transaction will be effective as of 31 December 2022. It marks an important step in the Group’s Vision 2025 as part of which the family business is driving its digitalisation and internationalisation in order to help everyone hear and see the beauty in the world.
Next to some real estate holdings (not part of the transaction), the MFI Group operates three business divisions that become part of the Fielmann Group: With 19 retail stores and an online shop, Medical Óptica Audición is the market leader in the Basque Country and one of Northern Spain’s leading providers of optical and hearing products. The vertically-integrated family business also runs its own optical surfacing and glazing laboratory as well as a manufacturing business for personal protective equipment (PPE). In 2021, the combined business generated external sales of € 35 million and employed 285 staff.
Marc Fielmann, CEO of Fielmann Group: “With its customer-centric values, an exceptionally talented team and a market-leading retail offering, the MFI Group is a great addition to the Fielmann Group. As Óptica & Audiología Universitaria and the MFI Group join forces, hearing and vision services in Spain will become better and more affordable for everyone. We trust that together we will continue to change the market to the benefit of customers and achieve market-leadership in the medium-term.”
Óptica & Audiología Universitaria joined the Fielmann Group in 2020. Thanks to its attractive products, the best prices and an exceptional service, the company significantly grew its market shares across Spain and expects external sales of € 139 million for the full year 2022. This +10% increase over last year is driven by an increase in same-store sales, new openings in Barcelona, Córdoba, Leganés, Sabadell and Villarreal as well as strong e-commerce growth. The addition of MFI Group will further accelerate the expansion of the Fielmann Group in Spain.
Inés Gómez-Rubiera, CEO of MFI Group: “With the Fielmann Group, we gain access to an international supply chain and a superior omnichannel platform. We also join a family business that shares our customer-centric values as well as our people-first approach. We look forward to contributing our expertise in retail, lens manufacturing and protective equipment to better serve customers all across Spain.”
Hamburg, 20 December 2022
The Management Board
About the Fielmann Group:
The Fielmann Group is a stock-listed family business based in Hamburg, Germany. As the most customer-centric provider of eyewear, contact lenses and hearing aids, we serve our 27 million active customers through an omnichannel platform comprised of digital sales channels as well as more than 900 retail stores across Europe.
About MFI Group:
MFI Group is a family owned business based in Bilbao, Spain. The vertically integrated group operates optical and acoustic retail (“Medical Óptica Audición”: digital sales channels and 19 stores, almost 1 million customers), a lens surfacing and glazing site (“Elaboria”: 200,000 lenses served per year). It also develops and manufactures personal protection equipment (“Medop”: more than 1.5 million workers in 50 countries equipped).