Optic Doron, a chain of 30 optometrist stores, mostly franchises, is in advanced negotiations to buy another chain, with nine stores nationwide, Optic Doron owner Roni Kaufman said. Kaufman said a deal would probably be signed in a few weeks, at an estimated company value of NIS 25 million.
Kaufman declined to name the optometrist chain that is up for sale, citing “reasons of confidentiality”. He predicts that the acquisition will boost Optic Doron’s turnover to NIS 100 million, and give a 33% share of Israel’s eyeglasses market.
Industry sources are cautious about Optic Doron’s announcement, doubting that any transaction is in the offing.
The announcement closely follows an announcement by Erroca owner Michael Wolf to “Globes” that the sunglasses chain planned to enter the optical products market on the basis of its current chain.
Industry sources estimate that optical products account for 15% of the eyeglasses market. Halperin Brothers - Optics (2000) Ltd. has a 10% market share, and Optic Doron 7%. The optical products market is estimated at NIS 300 million a year. Opticana and Halperin Brothers control 60% of this market, and private optometrists control 40%.
Published by Globes [online], Israel business news - www.globes.co.il - on November 24, 2005