As expected (see EUROPE 12416/28), the European Commission opened on Thursday 6 February an in-depth investigation into the proposed acquisition of GrandVision (a Dutch company) by EssilorLuxottica (a French-Italian company).
The Commission is concerned that the merger could reduce competition in the market for the wholesale supply of ophthalmic lenses and eyewear as well as in the market for the retail supply of optical products.
Margrethe Vestager, Executive Vice-President in charge of Competition Policy, said: “In this consolidating market, we need to carefully assess whether the proposed merger would lead to higher prices or reduced choices for consumers when they visit their local optician”.
EssilorLuxottica is the leading European and global supplier of ophthalmic lenses and eyewear (Ray-Ban, Oakley). GrandVision specialises in the retail sale of eyewear. Its operations include GrandOptical and Pearle.
The initial investigation raised a number of issues, including the combination of EssilorLuxottica’s strong market position in the wholesale supply of optical products (lenses and eyewear) and GrandVision’s leading presence in the retail distribution of these products. At this stage, the Commission is concerned that the transaction could lead to a reduction of competition in the retail markets for optical products.
It has until 22 June 2020 to decide. (Original version in French by Lionel Changeur)