EssilorLuxottica is to expand its local presence with the acquisition EyeQ Optometrists, subject to the terms of the transaction being met.
EyeQ’s 25 practices will retain their brand and EyeQ employees will remain in employment. The EyeQ National Office will merge in the future with the Luxottica support office located in North Sydney.
In a statement, EyeQ, which is led by Executive Chairman Ray Fortescue, acknowledged that the transaction “will be good for the future of the company, (its) employees and patients”.
“EyeQ Optometrists has made this decision to ensure the company and employees continue to deliver the same high quality and specialised eye care for (its) patients,” the statement read.
“For EssilorLuxottica, the decision to acquire EyeQ Optometrists is for their strong local presence, particularly in geographic areas they do not currently service, and a similar commitment to exceptional care.
“EssilorLuxottica also believes that EyeQ Optometrists has the potential to continue to expand the brand.”
EssilorLuxottica’s significant resources will deliver benefits to EyeQ employees such as broader career opportunities, education, training, and volunteer programs.
EyeQ has undergone several significant changes in recent years, aimed at streamlining its business operations and pursuing sustainable growth.
In its 2023 financial report, “with interest rate increases finally kicking in” Mr Fortescue stated that while in a strong financial position, the company was “cautiously” exploring all opportunities that could arise with the changing national and international economic conditions.
