Ikea fund acquires Denmark's second biggest optician chain  

2007.06.27
Backed by Ikea owners' cash tank Catella, Swedish optician chain Synsam has acquired Denmark's second biggest optician chain Profil Optik
With the help of Catella, an investment bank and capital fund founded on the earnings from Sweden's furniture giant Ikea, Swedish optician chain Synsam has acquired a solid presence on the Danish optician market by acquiring the second biggest player, Profil Optik (26% market share), for a price reported to be around DKK 1.2 bn (USD 217 m). The sale came as no great surprise to the industry, since Profil Optik was known to have been in talks with various possible suitors for some considerable time.
 
Synsam, already the market leader in Sweden with 155 stores, has now become the Nordic market leader, adding 124 stores in Denmark to its existing 83 stores in Norway and 34 stores in Finland. Altogether Synsam has a 26% share of the Nordic market.
 
Gunnar Harbom, managing director of Synsam, comments: "We can create the Nordic region's leading retail trade chain with further development potential outside the Nordic region. With Catella as a partner and part owner we gain financial strength and competence in the retail sector, where Catella has long experience and a broad network in the Nordic region and the rest of Europe."
 
Denmark's three biggest players in the optician industry are now under foreign ownership. Danish market leader Synoptik (31% market share) is owned by the Netherlands' Hal Investment, while third biggest player Louis Nielsen (13% market share) is owned by the UK's Specsavers.
 
The news was reported by financial daily newspaper Børsen.

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