New Look Vision Group Inc. Completes Acquisition of Edward Beiner in Florida
MONTREAL, March 04, 2020 (GLOBE NEWSWIRE) — New Look Vision Group Inc. (“New Look Vision”), announced today that it has completed the acquisition of substantially all of the assets of Miami based Coco Lunette Holding, LLC which carries on business principally under the Edward Beiner banner (the “Edward Beiner Company”). Based in Miami, Florida, the Edward Beiner Company has 12 locations across key premium markets in Florida. As previously announced, its current annualized revenues are $15.5 million Cdn and it will continue to operate as a stand-alone unit within New Look Vision.
Antoine Amiel, President and CEO of New Look Vision stated that: “We are pleased to announce the closing of the Edward Beiner Company transaction, following a period of strong cooperative effort by both New Look Vision and Edward Beiner Company management. We are very much looking forward to working with the Edward Beiner Company team to grow our presence in the U.S. retail optical market. This transaction brings our total store network to 394 locations across North America as we proceed to further implement our corporate strategy for growth and development.”
About New Look Vision Group Inc.
As at February 29, 2020, New Look Vision had 15,660,199 Class A common shares issued and outstanding. New Look Vision is a leader in the eye care industry in Canada with a network of 394 stores operating mainly under the New Look Eyewear, Vogue Optical, Greiche & Scaff, IRIS and various Luxury banners and laboratory facilities using state-of-the-art technologies.About Edward Beiner
Edward Beiner specializes in fashion and high-performance eyewear designed for today’s lifestyle-oriented customer. Based out of Miami, the company’s brand matrix and selection are what separate the independent optical retailer from eyewear big boxes around the world. Each location carries a unique selection and styles that are based on the demographic of the community. With a commitment to design quality and customer service – Edward travels the world in order to carefully curate the selection of eyewear offered in each boutique bringing cutting-edge frames to the U.S. market.All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look Vision. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look Vision believes that the plans, intentions or expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look Vision’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look Vision undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law. For additional information please see our website at www.newlookvision.ca.For additional information please see our web site www.newlookvision.ca. For enquiries, please contact Lise Melanson (514) 877-4119