EQS-Information: Fielmann Group closes acquisition of Shopko Optical and will increase FY2024 outlook

Fielmann Group closes acquisition of Shopko Optical and will increase FY2024 outlook
German household enterprise varieties main optical retailer within the Higher Midwest of the US
 

• Shopko Optical acquisition closed at this time, enterprise can be consolidated from 1 July 2024
• Fielmann Group’s FY2024 gross sales outlook upgraded to round €2.3 billion (+15% over final yr), EBITDA margin stays consistent with beforehand issued steerage

HAMBURG, GERMANY / DETROIT, MICHIGAN & GREEN BAY, WISCONSIN, USA – 1 July 2024 – The Fielmann Group, a number one world eyewear supplier, introduced at this time that it has closed on its acquisition of Shopko Optical. This transaction was signed on 10 June 2024. It marks one other necessary milestone within the German household enterprise’ plans to develop internationally and execute on its Imaginative and prescient 2025 development technique.

Shopko Optical is consolidated as a part of the Fielmann Group as of 1 July 2024 and can contribute six months of enterprise gross sales this yr. As our current enterprise performs consistent with our prognosis communicated in April, we elevate our gross sales outlook for 2024 proportionally to round € 2.3 billion (beforehand: round € 2.2 billion). Shopko Optical has the same margin profile because the Fielmann Group. Nonetheless, the corporate’s FY2024 revenue contribution is anticipated to be restricted, because the North America phase can be affected by transaction and integration prices.

Marc Fielmann, CEO of the Fielmann Group: “Fielmann’s function is to assist everybody hear and see the sweetness on this planet. With the addition of Shopko Optical we’re delighted to welcome 1,100 new members to our household enterprise. Along with our nice groups from SVS Imaginative and prescient and Befitting, we look ahead to redefining what US clients can count on of eyecare and eyewear.”

Lukas Ruecker, CEO of Fielmann USA, Inc.: “Fielmann USA is rising strongly and gaining market share. We’ve enhanced the service and high quality our clients have come to count on, expanded capability to considerably shorten the ready time to get a watch examination and launched a novel omnichannel purchasing expertise. Within the coming months, adjustments in our assortment and repair are going to additional enhance the client expertise, particularly for shoppers with insurance coverage. By becoming a member of forces with the good workforce at Shopko Optical we’re thrilled to increase our distinctive providing to thousands and thousands of individuals throughout the Midwest.”

Fielmann USA is happy to announce an addition to its Government Administration: Russ Steinhorst, former CEO of Shopko Optical, has been appointed Government Vice President and Chief Monetary Officer (CFO) of Fielmann USA. Lukas Ruecker continues: “With Russ Steinhorst we welcome an business veteran with an excellent monitor document in re-building Shopko Optical and turning it into a number one optical retailer throughout Wisconsin, Nebraska, and Minnesota, along with 10 different US states. We additionally prolong a heat welcome to the numerous different Shopko Optical executives which have joined our household enterprise and can be a part of our mission to redefine the client expertise throughout the Midwest.”

Extra info on the Shopko Optical transaction and our US technique can be offered throughout Fielmann Group’s Annual Normal Assembly on 11 July 2024.

Hamburg, Germany – 1 July 2024
Fielmann Group AG
The Administration Board
About Fielmann Group AG
The Fielmann Group is a German household enterprise that serves 29 million clients with eyewear, contact lenses, listening to aids and first eyecare providers. It operates an omnichannel platform consisting of digital gross sales channels and greater than 1,200 retail shops worldwide. Based in 1972, the corporate is led by Marc Fielmann, representing the second technology of the Fielmann Household who nonetheless owns nearly all of the corporate’s inventory. By staying true to its customer-centric values, the Fielmann Group helps everybody hear and see the sweetness on this planet. Due to the dedication of its 24,000 individuals worldwide, the corporate is persistently reaching buyer satisfaction and retention charges of greater than 90% and has to-date fitted greater than 200 million pairs of particular person prescription glasses.

About Shopko Optical
Shopko Optical (Shoptikal Topco, Inc.) is an optical retailer working greater than 140 shops in Idaho, Illinois, Iowa, Michigan, Minnesota, Montana, Nebraska, North Dakota, Ohio, South Dakota, Utah, Washington and Wisconsin. The corporate generated US$168 million in gross sales in 2023. At year-end, near 1,100 staff have been driving the expansion of Shopko Optical.

Photos
Discover high-resolution footage for obtain at https://www.fielmann-group.com/en/information/
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Additional info
Katrin Carstens · Director Communications & Public Relations · [email protected] · Cellphone +49 40 270 76-5907
Ulrich Brockmann · Director Investor Relations · [email protected] · Cellphone +49 40 270 76-442