Romania's competition body clears takeover of OPTIblu optics chain by Innova Capital

Polish investment fund Innova Capital can take over Romanian company Optical Network, which operates the OPTIblu optics store network, after the Competition Council cleared the deal.

The OPTIBlu optics stores had RON 58 million (EUR 12.4 mln) revenues last year.

The sellers are two companies registered in Cyprus, represented by Dragoș Roșca, the general manager of Delta Asset Invest. The value of the deal was not disclosed.

The new owner plans to expand the network, which currently has 55 stores under the OPTIblu brand for premium products (37 stores) and Klarmann brand for budget products (18 stores).

Innova also announced in July that it would also take over optical retailer Optiplaza, which operates 42 units nationwide under two brands: Optiplaza and Optical Express. The competition body has not cleared this deal yet. Innova would thus gain a strong position on the Romanian optical market, a fragmented market with many individual cabinets, which has not been targeted by financial or strategic investors so far.

The medical optical market is estimated at RON 1 billion (EUR 210 million). Some of the biggest players are OPTIblu networks (operated by Optical Network), Optiplaza and OptiCris.

(Photo source: Facebook/OPTIblu Romania)