For the Press Times

GREEN BAY – The Fielmann Group announced on June 10 that it has entered into a definitive agreement in which its U.S. subsidiary, Fielmann USA, will acquire 100% equity ownership in Shopko Optical, based in Green Bay, from Monarch Alternative Capital LP.

The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions and regulatory approvals.

Shopko Optical has been providing eyecare to Midwest communities for over four decades.

The company operates more than 140 stores across 13 U.S. states and generated $168 million in sales in 2023.

Upon closing, Fielmann USA intends to integrate Shopko Optical into its omnichannel — store, mobile and online — sales platform that, following the completion of the transaction, would serve customers via digital sales channels and more than 220 retail practices across 19 U.S. states, predominantly in the Midwest.

“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 re-define what US consumers can expect of eyecare and eyewear,” Marc Fielmann, CEO of the Fielmann Group, stated.

“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,” Lukas Ruecker, CEO of Fielmann USA, Inc. added.

“As part of Fielmann USA, Shopko Optical will continue to provide quality, trusted care to our patients,” Russ Steinhorst, Shopko Optical CEO said. “Like Shopko Optical, Fielmann focuses on making affordable quality eyewear and eye care accessible in the upper Midwest. Patients in our communities will continue to receive the care they’ve come to expect from our centers, staff and doctors. After closing, as Shopko Optical is going to gain access to Fielmann’s global supply chain and omnichannel business model, patients can expect attractive new product and service innovations.”