The combined business will create the second largest optical chain in the UK. It will trade as Boots Opticians and boast around 690 shops, including around 210 franchises.
Alliance Boots will hold a controlling stake in the new company, but it will be jointly owned with Dollond & Airchison’s owner De Rigo. It will be run as a standalone business and it is proposed that the head office will eventually be based in Nottingham.
Current managing director of Boots Opticians, Pradip Patel, will become chairman and Andy Ferguson, currently chief executive of Dollond & AItchison, will become managing director.
The deal is subject to approval by the competition authorities and is expected to be completed in the second quarter of this year.
Alliance Boots executive chairman Stefano Pessina said: “The merger gives us an excellent opportunity to create a leading force in the UK optical market. Our plan is to grow and develop the new business, building on the strengths of the Boots brand.”
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