The Fielmann Group, a leading global eyewear provider, today announced that it has entered into a definitive agreement in which its US subsidiary, Fielmann USA, will acquire 100% equity ownership in Shopko Optical, an optical retailer based in Green Bay, Wisconsin, from Monarch Alternative Capital LP. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions and regulatory approvals.
Shopko Optical has been a leader in providing trusted eyecare to communities for over 40 years. The company operates more than 140 stores across 13 US states and generated US$168 million in sales in 2023. Upon closing, Fielmann USA intends to integrate Shopko Optical into its omnichannel platform that, following the completion of the transaction, would serve customers via digital sales channels and more than 220 retail practices across 19 US states, predominantly in the Midwest.
The transaction marks another milestone for the Fielmann Group’s growth strategy in the US. In 2023, it entered the market by acquiring online eyewear retailer Befitting as well as SVS Vision, an optical retailer that operates 80 stores across 9 US states with a market-leading position in Michigan.
Marc Fielmann, CEO of the Fielmann Group: “Fielmann’s purpose is to help everyone hear and see the beauty in the world. Our acquisition of Shopko Optical is in line with our Vision 2025 growth strategy to expand our business further internationally, particularly in the US market. This acquisition is the next step in our long-term plan to redefine what US consumers can expect of eyecare and eyewear.”
Lukas Ruecker, CEO of Fielmann USA, Inc.: “Over its 50-year history, the Fielmann Group has helped shape the European eyewear market with its signature customer-centricity. Having integrated recent acquisitions, SVS Vision and Befitting, Fielmann USA today offers a unique omnichannel shopping experience for customers with vision insurance. The addition of Shopko Optical is going to enable us to make affordable quality eyewear and eyecare accessible to more people across the Midwest.”
About Fielmann Group AG
The Fielmann Group is a German family business that serves 28 million customers with eyewear, contact lenses, hearing aids, and primary eyecare services. It operates an omnichannel platform consisting of digital sales channels and more than 1,000 retail stores worldwide. Founded in 1972, the company is led by Marc Fielmann, representing the second generation of the Fielmann Family who still owns the majority of the company’s stock. By staying true to its customer-centric values, the Fielmann Group helps everyone hear and see the beauty in the world. Thanks to the dedication of its 23,000 people worldwide, the company is consistently reaching customer satisfaction and retention rates of more than 90% and has to-date fitted more than 200 million pairs of individual prescription glasses.
About Shopko Optical
Shopko Optical (Shoptikal Topco, Inc.) is an optical retailer operating more than 140 stores in Idaho, Illinois, Iowa, Michigan, Minnesota, Montana, Nebraska, North Dakota, Ohio, South Dakota, Utah, Washington, and Wisconsin. The company generated US$168 million in sales in 2023. At year-end, 1,087 employees were driving the growth of Shopko Optical.
