New Look Vision Group enters an agreement to sell the majority of its shares to FFL Partners and Caisse de dépôt et placement du Québec (CDPQ), thus becoming a private company again.
The Company starts the year as a dominant player in the luxury division across Canada, with 13 locations in Québec City and in the metropolitan areas of Montréal, Toronto, and Vancouver.
In March, the Company announces the closing of its previous acquisition of the Miami-based chain, Edward Beiner, with 12 locations in key Florida high-end markets.
The Company is pursuing its cumulative consolidation strategy in Canada and announces the acquisition of the Edward Beiner chain. At the end of the year, the Company attains 378 Canadian stores.
In May, the company launches a hearing aid initiative, on a trial basis, at some of its optical stores in Québec, Ontario, British Columbia, and Nova Scotia.
In August, the company announces its cutting-edge bespoke eyewear initiative with an investment and working relationship with Topology, a San Francisco-based leader in the field, as part of its new omnichannel strategy.
At the end of the year, the Company’s laboratory and distribution centre in Ville Saint-Laurent, Québec, become the most important of the industry in Canada.
For the year, the Company demonstrated strong operating and financial results. Since launching its pan-Canadian strategy in 2013, the Company’s annual growth rate of revenue and adjusted earnings before interest, depreciation, amortization, and income taxes, has been 22% and 23%, respectively.
The Company focuses on integrating past acquisitions and building its infrastructure reflected in exceptional operating and financial results. Sales and adjusted EBITDA reach record levels and are up 27% and 28.5% from the previous year.
In October 2017, the company acquires IRIS, the visual group, a national chain operating under a banner emphasizing optometric services and has a network of 147 locations (50 properties, 77 condominiums, and 20 franchisees) across Canada for an amount of $120,000,000.
In this regard, the Company raises $50,000,000 in new equity through private placement.
This confirms the Company’s position as the largest group of optical retailers in Canada with 379 locations and four major banners, New Look Eyewear, Vogue Optical, Greiche & Scaff, and IRIS, as well as estimated annual sales of $265,000,000 (properties) and $315,000,000 (global network) respectively.
In February, the company acquires Forward Vision Group for $13,000,000, which has 15 locations in southwestern Ontario. In December, the company also acquires Visions Optical, a chain with 10 locations in British Columbia for $6,600,000, deploying its national strategy and making the company the largest group of optical retailers in Canada.
At the end of the year, the company has 220 locations and revenues of $200 million.
In May, the name of the public company is changed to New Look Vision Group, reflecting its evolution into a holding and management company, and its spectacular growth and current scope of activity.
Antoine Amiel is appointed President and Chief Executive Officer.
In October, the company acquires Greiche & Scaff, an optical retail chain with 49 locations operating mainly in the greater Montréal area.
At the end of 2014, revenues exceeded $140 million, and the company has 193 locations, operating mainly under its three banners: New Look Eyewear, Greiche & Scaff, and Vogue Optical.
As a result, the company issues an additional $10,000,000 of capital stock on the public market.
In December, the Company launches its pan-Canadian consolidation strategy with the acquisition of Vogue Optical, the leader in the sale of optical products in the Maritimes with 65 locations located mainly in the Atlantic provinces, for $74 million.
As a result, the company issues $25,000,000 in share capital on the public market.
Antoine Amiel joins the company as Vice-President, Strategic Development.
The Company acquires ownership of the real estate and buildings housing its laboratory and distribution facilities in Ville Saint-Laurent, Québec, giving it flexibility, which is essential for its future growth.
Revenues exceed $80 million, and its store network reaches 68 locations in Québec and Ottawa regions, all under the New Look Eyewear banner.
The Company is reconverted into a corporation listed on the Toronto Stock Exchange (TSX) and implements a policy of quarterly dividends.
The Company successfully launches its line of Evolution HD and Ultra EvolutionTM lenses manufactured using digital or “free form” technology.
The Company launches the Hydro Satin treatment technology.
Revenues reach $50 million, and the store network totals 52 locations.
Benvest Capital Inc. is converted into an income trust, the Benvest New Look Income Fund, which begins declaring distributions to its shareholders.
New Look Eyewear becomes a public company with the consolidation of its results by Benvest Capital Inc.
Opening of a major ophthalmic lens manufacturing laboratory and distribution centre in the region.
The company also opens its first prototype megastore in Laval, Québec.
Benvest Capital Inc., an investment bank, led by John Bennett (the current chairman of the board of directors of the Company), acquires and takes control of New Look Eyewear. At that time, the Company generated revenues of $34 million and has 34 stores, mainly in Québec. Emmett Pearson is appointed President and CEO.
Under the leadership of Benvest Capital Inc., New Look Eyewear begins a program of restructuring and expansion of its network.
In 1986, New Look Eyewear was founded in Québec City by Mr. Guy Rouleau, optician.
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