3i invests €200m in Gorinchem-based Optical Retailer Hans Anders
3i Group plc (“3i”) has agreed to invest €200m in Hans Anders, a leading optical retailer in the Benelux. The business is being purchased from Alpha Private Equity and Alpinvest.
Founded in 1982 and headquartered in Gorinchem, the Netherlands, Hans Anders is a market leading, value-for-money optical retailer in the Benelux with a presence in Sweden and France. The company offers a range of private label and branded spectacles, as well as hearing aids, contact lenses and sunglasses, at average price points significantly below its major competitors. The company is the most well-known optical retailer in its core markets with a high level of brand awareness and customer loyalty.
Hans Anders represents an attractive opportunity in the sweet spot of 3i’s consumer strategy and will benefit from long-term, macro growth dynamics including an aging population and an increasing focus by consumers on the value-for-money segment. 3i has extensive experience of investing in the value-for-money segment through its existing investments in Action, the leading international non-food discount retailer, and Basic-Fit, the largest value-for-money fitness club operator in Europe.
Hans Anders operates 253 stores in the Netherlands, 105 in Belgium, 62 in France and 36 in Sweden and achieved sales of €192m in the last fiscal year ending January 2017. It has achieved average annual revenue growth of 10% since 2013.
Robert Van Goethem, Partner & Head of Consumer at 3i, commented:
“Hans Anders is a successful company, led by a first class management team, with exciting growth potential. The European optical retail market remains heavily fragmented and we believe there are significant opportunities for Hans Anders as a leading player in the value-for-money segment. We look forward to supporting the management team to drive further growth and expand the company’s footprint.”
Remco Boerefijn, who will become CEO of Hans Anders following the transaction, said:
“We are delighted to be partnering with 3i. As well as its deep experience and strong track record of supporting retailers in the Benelux and Europe at large, it has an exceptional international network which will greatly benefit Hans Anders. 3i also has experience in the optical market which will be very valuable to our partnership.”
The transaction is subject to customary regulatory approvals.
About Hans Anders:
Founded in 1982 in the Netherlands, Hans Anders is the leading optical and hearing device retailer in the Netherlands and Belgium. It has further extended its geographic footprint to Sweden, where it holds important positions and France, where it is one of the fastest growing player.
Hans Anders positions itself on the value for money segment, capitalizing on a network of more than 430 stores in its 4 key countries.
Source 3i’s press release