MONTREAL - An investor group including the Caisse de depot et placement du Quebec has signed an agreement to buy New Look Vision Group Inc. in a deal that values the company at about $800 million.
Under the agreement, the group, which also includes private equity firm FFL Partners and the Dr. H. Doug Barnes Family, will pay $50 in cash per share for New Look.
Shares in the company closed at $39.63 on the Toronto Stock Exchange on Thursday.
New Look sells prescription and non-prescription glasses, contact lenses and sunglasses.
It has a network of 406 stores under several banners including New Look Eyewear, Vogue Optical, Greiche & Scaff, Iris and Edward Beiner.
The deal, which requires shareholder and other approvals, is expected to close in the first half of this year.
