Skip navigation

Gloucestershire Business News

Norville's owners buy German optical manufacturer

The firm which bought the lens manufacturing division of Gloucester opticians The Norville Group has agreed a deal to buy a German eyewear supplier.

Bath-based Inspecs purchased The Norville Group in July in a deal believed to be worth around £2.4million.

And it has now conditionally agreed the deal to buy Eschenbach, based in Nuremberg, for around £85million.

A company statement said the acquisition provided a complete frame and lens package through integration with Norville's manufacturing facility.

Inspecs chief executive Robin Totterman said: "As a high-quality business with a strong management team and track record of margin-accretive growth, Eschenbach represents the ideal fit for Inspecs.

"Moreover, it will enable the group to penetrate key global markets, broaden our customer reach, strengthen our brand portfolio and capitalise on the compelling structural opportunities that exist in the fragmented global eyewear market."

Retail arm Norville Opticians was bought in June by The Hakim Group, the largest group of independent opticians in the UK, with nine shops across the county continuing to operate under the Norville name.

Related Articles

Boeing announces distribution agreement with Ontic Image

Boeing announces distribution agreement with Ontic

Boeing will now distribute about 1,000 additional actuation and propulsion system products to Ontic.

Solar farm plans on the agenda Image

Solar farm plans on the agenda

Plans for a solar farm in Twigworth will be discussed by Tewkesbury Borough Council’s Planning Committee next week.

Special needs teacher defrauded £13,000 in benefits Image

Special needs teacher defrauded £13,000 in benefits

A teacher at a Cotswolds college cheated the State out of benefits by claiming she had to pay rent for a house that she actually owned.

EXCLUSIVE: Hotspot pub told signs have to go Image

EXCLUSIVE: Hotspot pub told signs have to go

Planners send pub giant back to the drawing board.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.