Fielmann drives international expansion, acquires Óptica & Audiología Universitaria in Spain

Acquisition of third-largest optical retail group in Spain is part of Fielmann's Vision 2025

Fielmann AG acquires an 80 percent equity ownership stake in Óptica & Audiología Universitaria, thereby entering the 15th European market. The transaction is effective as of December 31, 2020, and marks an important step in the continued internationalisation of the Fielmann Group.

With about 400,000 glasses sold and more than € 100 million in sales (2019), Óptica & Audiología Universitaria is the third-largest retail chain in Continental Europe's fourth-largest optical market. The family business currently operates 80 stores with more than 1,000 employees in Spain. During the ongoing fiscal year, the company outperformed its competitors and gained market share.

"With Óptica & Audiología Universitaria we acquire one of the leading optical businesses in Spain. Its strict customer focus, highly qualified staff, superior products at the best prices and an outstanding productivity make the company a perfect match for us. Through synergies within the Fielmann Group, we will further accelerate the growth of Óptica & Audiología Universitaria. Our long-term plan constitutes selling more than 900,000 glasses and generating sales of more than € 250 million. This acquisition is another important step in our Vision 2025. Fielmann is shaping the industry across the continent to the benefit of consumers," says Marc Fielmann, CEO of Fielmann AG. "In 2021, we will further drive our international expansion, gain additional market share in both our core and growth markets and enter an additional new market."

Manuel Caballero and Rufo Gómez, founders of Óptica & Audiología Universitaria, retain a 20 percent equity stake and will continue to actively develop the business: "Digitisation and internationalisation are the two key challenges affecting our industry today. Thanks to Fielmann, we not only gain access to significant financial resources, an international supply chain and a superior omnichannel platform but also win a family business with shared values as a strategic partner. We will utilise the Fielmann Group's resources to grow Óptica & Audiología Universitaria and to attain market leadership." In 2021, Óptica & Audiología Universitaria is going to open 10 new stores in Spain. In the long-term, the company plans to operate more than 200 stores across the country.

About Fielmann AG

Fielmann stands for fashionable eyewear at fair prices. The stock-listed family business is based in Hamburg, Germany, and operates its own design studios, production facilities and about 800 stores across 14 European countries. With its omnichannel business model, the company serves more than 25 million customers. Its main products are eyewear, contact lenses and hearing aids. Fielmann owes its success to its more than 21,000 competent and motivated employees who embody the company's customer-centric philosophy. In 2019, Fielmann sold 8.3 million glasses, generated external sales (incl. VAT) of € 1.76 billion and a pre-tax profit of € 253.8 million. Being a social family business, Fielmann contributes to the communities it operates in, sponsors thousands of youth sport teams across Europe, supports heritage preservation and various projects aimed at protecting the environment and the climate. Since 1984, the company is planting a tree for every employee each year - so far this amounts to more than 1.6 million trees and bushes.

About Óptica & Audiología Universitaria

Founded in 1992, Óptica & Audiología Universitaria is thriving thanks to a clear focus on the customer and an offer of leading brands at the best prices. The family business has quickly become one of the top three chains in Spain and today operates 80 shops in Alicante, Barcelona, Castellón, Girona, Lérida, Madrid, Murcia, the Balearic Islands, Tarragona, Valencia, and Zaragoza.

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