GrandVision - HAL acquires optical retail chain in Mexico
HAL’s subsidiary Pearle Europe B.V. acquired 100% of the shares of Tide Ti, a sunglass- and optical retailer in Mexico. The shares were acquired from Safilo Group S.p.a (60%) and the founding shareholders (40%). The transaction with Safilo was already announced in October 2009 as part of the agreement to acquire a minority share in the Safilo Group.
Tide Ti is located in Cancun, Mexico, and operates 57 stores under the Sunglass Island and Optical Island brands. The company has approximately 370 employees and reported 2009 net revenues of MXN 322 million (€ 20 million).
HAL Holding N.V.