MONTREAL, May 18, 2021 (GLOBE NEWSWIRE) – New Look Vision Group Inc. (“Vision new look“or the”Company“) (TSX: BCI.TO) announced today that it has obtained a final order from the Superior Court of Quebec with respect to the previously announced plan of arrangement (the”Arrangement“) With NL1 AcquireCo Inc. (the”Buyer»), An entity created by a group made up of funds managed by FFL Partners, LLC, a private equity firm based in San Francisco, the Caisse de dépôt et placement du Québec or one of its subsidiaries, and the Dr family. H. Doug Barnes. Pursuant to the Arrangement, New Look Vision shareholders will receive $ 50.00 in cash per Class A common share of New Look Vision (the “ActionsWith the exception of certain shareholders who will receive, in respect of some of their shares, common shares from the purchaser.
New Look Vision and the Purchaser have now received all third party approvals required to complete the Arrangement. Subject to certain customary closing conditions, the Company expects the Arrangement to be completed on or around May 26, 2021.
About New Look Vision
New Look Vision is a leading provider of eye care products and services in Canada and has recently entered the US market. The Company retails optical products which can be grouped into four main categories: (i) prescription and non-prescription glasses, (ii) contact lenses, (iii) sunglasses, protective glasses and reading glasses, and ( (iv) accessories, such as cleaning products for glasses and contact lenses. The company’s store network comprises 407 establishments, operating primarily under the New Look Eyewear, Vogue Optical, Greiche & Scaff, Iris and Edward Beiner brands. Certain prescription lenses are processed at the Company’s laboratory, located in Ville St-Laurent, Quebec. For more information, please visit www.newlookvision.ca or visit our LinkedIn page.
About FFL Partners
Founded in 1997, FFL Partners is a San Francisco-based private equity firm with over $ 4.5 billion under management. FFL pursues thematic investments in business and healthcare services in partnership with exceptional leadership teams where the company’s high-engagement operating model and extensive network can help accelerate growth and unleash value . The growth of its business has provided more than 75% of the value created by FFL for its investors. For more information, please visit www.fflpartners.com.
About the CDPQ
At the Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate long-term sustainable returns. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build businesses that drive performance and progress. We are active in the main financial markets, private equity, infrastructure, real estate and private debt. As of December 31, 2020, the net assets of the CDPQ amounted to C $ 365.5 billion. For more information visit cdpq.com, Follow us on Twitter or consult our Facebook or LinkedIn pages.
Caution Regarding Forward-Looking Statements
Certain statements made in this press release are forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements regarding the timing of the closing of the Arrangement and other statements that are not important facts. Often, but not always, forward-looking statements can be identified by the use of forward-looking terms such as “may”, “will”, “expects”, “believes”, “believes”, “plans”, “might” , “Should”, “would”, “foresee”, “foresee”, “anticipate”, “foresee”, “continue” or the negative of these terms or variations thereof or similar terminology.
Although the company believes that the forward-looking statements contained in this press release are based on current, reasonable and complete information and assumptions, such statements are, by their nature, subject to a number of factors that could cause that actual results differ materially from those of management. expectations and plans as set forth in these forward-looking statements, including, without limitation, the following factors, many of which are beyond the control of the Company and the effects of which may be difficult to predict: (a) the possibility that the proposed arrangement will not be completed on the terms or on the schedule currently contemplated, and may not be completed at all, due to failure to meet, on time or otherwise, the closing conditions necessary to complete arrangement or for other reasons; (b) risks relating to tax matters; (c) the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Arrangement; (d) risks relating to the Company’s ability to retain and attract key personnel during the interim period; (e) the possibility of litigation relating to the Arrangement; (f) credit, market, foreign exchange, operational, liquidity and financing risks generally and specifically relating to the Arrangement, including changes in economic conditions, interest rates or rates taxation; (g) the business, operational and financial risks and uncertainties associated with the COVID-19 pandemic; and (h) other risks inherent in the business of the Company and / or factors beyond its control which could have a material adverse effect on the Company or its ability to complete the Arrangement.
Readers are cautioned not to place undue reliance on any forward-looking statements and information contained in this press release. New Look Vision disclaims any obligation to update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
For more information:
Vision new look
+1 514 877 4119
+1 415 402-2100
+1 514 847-5493