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Fielmann Buys Slovenian Optician as CEO Pursues Expansion Pledge

Fielmann Buys Slovenian Optician as CEO Pursues Expansion Pledge

  • Company buys 70% stake in Optika Clarus; no terms disclosed
  • CEO says he plans to expand into five new markets by 2025

German optician Fielmann AG is moving into Slovenia, as its new chief executive officer pursues external growth to accelerate the company’s expansion.

The Hamburg-based company, which made its last acquisition in 2000, agreed to buy 70% of Slovenia’s Optika Clarus, increasing the number of European countries where it has a presence to 14. CEO Marc Fielmann, 30, last month said the company plans to add five new countries to help boost external revenues to 2.3 billion euros ($2.6 billion) by 2025, and that the push could also include takeovers.

Fielmann set up a dedicated M&A team in early 2019 that is currently in talks with interested parties in several countries that the company is considering for organic expansion or acquisitions, the CEO said. The next announcement may come within 12 months and the company has liquidity of 300 million euros available to finance potential deals, he added.

The shares have gained about 13% this year, valuing the company at 5.1 billion euros. Fielmann is majority-owned by founder Guenther Fielmann, who passed the helm to Marc earlier this year.

Fielmann plans to sell more than 100,000 pairs of spectacles in Slovenia by 2025, compared with the more than 50,000 that Optika Clarus sells today.