The two eye-wear businesses had around 100 stores and a combined turnover of more than RON100 million.
The merger process was assisted by KPMG Legal – Toncescu si Asociatii SPARL and KPMG Tax.
Optical Network operated OPTIblu and Klarmann stores, and Optiplaza had over 40 stores under the brands Optiplaza and Optical Express.
Innova’s acquisition of Optiplaza and Optical Network received antitrust clearance in 2019.
The Optical Network acquisition is eatimated at under EUR10 million.
Innova Capital, headquartered in Poland, has been present in Romania for around 20 years and has several investments in sectors such as financial services, technology, media, telecom, energy, food and transport.
The local medical optics market is estimated at over RON1 billion.