3i Group Agrees to Purchase Brazil Eyeglass Seller Oticas
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3i Group Plc and investors Neuberger Berman Group LLC and Siguler Guff & Co. agreed to buy Oticas Carol, the second-largest eyeglass retailer in Brazil, to profit from the nation’s growing middle class.
The three firms will invest a total of 108 million reais ($55 million) in Sao Paulo-based Oticas Carol, 3i said in an e-mailed statement yesterday. Chief Executive Officer Ronaldo Pereira will retain his position and is increasing his stake, according to the statement.