Monarch Alternative Capital Announces the Sale of Shopko Optical
Monarch Alternative Capital Announces the Sale of Shopko Optical
NEW YORK and LONDON, June 10, 2024 /PRNewswire/ -- Monarch Alternative Capital LP, a leading investment firm with over $14 billion of assets under management, today announced that it entered into a definitive agreement to sell Shopko Optical to the Fielmann Group, a leading global eyewear provider. Shopko Optical, an optical retailer operating more than 140 stores across 13 U.S. states, has been a leader in providing trusted eyecare to communities for over 40 years. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions and regulatory approvals.
2024年6月10日,纽约和伦敦 / PRNewswire - Monarch Alternative Capital LP是一家领先的投资公司,管理超过140亿美元的资产,今天宣布已进入与全球领先的眼镜提供商Fielmann Group达成出售Shopko Optical的明确协议。 Shopko Optical是一家光学零售商,在美国13个州经营超过140家门店,40多年来一直是社区提供可靠眼部护理的领导者。预计交易将于今年第三季度完成,取决于常规的完成条件和监管批准。
Shopko Optical was formed as a standalone company in 2019 through Monarch's purchase of 80 store-in-store optical units from Shopko Stores, Inc., formerly a retail chain of discount department stores based in Wisconsin that filed for bankruptcy in January 2019. Through involvement in the restructuring process, Monarch identified the opportunity to purchase Shopko Stores' optical business in the bankruptcy sale auction process. Monarch believed Shopko's optical business was a highly attractive asset within the broader Shopko retail platform. The optical business had a proven track record of revenue and EBITDA growth.
Shopko Optical 是2019年成为一个独立公司的,通过 Monarch 收购 Shopko Stores,Inc.旗下的80家店内光学部门而成立的,这家公司过去是一家总部位于威斯康星州的折扣百货连锁店,并于2019年1月申请破产。 经过 Monarch 的重组过程介入,发现在破产清算拍卖过程中购买 Shopko Stores 的光学业务的机会。 Monarch 认为 Shopko 的光学业务是 Shopko 零售平台内非常有吸引力的资产,光学业务拥有经过验证的营业收入和创业板增长记录。
Monarch successfully transitioned 80 legacy store-in-store units into freestanding stores, ensuring the continuity of the optical services as well as the dedicated healthcare staff and employees. In addition, the strength of the Shopko Optical brand in the Midwestern market generated growth opportunities to expand into new markets through new store openings and acquisitions. Over the past five years, Shopko Optical has nearly doubled its store count and expanded its store footprint into several new states. With a strong management team and ongoing execution, the company has capitalized on the long-term secular growth trends in the U.S. optical industry.
Monarch成功地将80个传统店内店的单位转变为独立的商店,确保了光学服务以及专业的医疗保健人员和雇员的连续性。此外,在中西部市场上Shopko Optical品牌的实力通过新的店铺开张和收购,发掘了扩展到新市场的增长机会。在过去的五年中,Shopko Optical将其门店数量增加了近一倍,并将其店铺覆盖范围扩展到了几个新州。凭借强大的管理团队和不断的执行力,该公司已经抓住了美国光学行业长期的结构性增长趋势。
"Monarch Alternative Capital has been a fantastic partner and advocate of Shopko Optical over the last five years," said Russ Steinhorst, Chief Executive Officer of Shopko Optical. "They saw the potential early on and fully supported the team as it executed the initial establishment of the company and carveout of 80 locations, followed by resources and guidance to grow to the 145 locations we have today. We appreciate the thoughtful approach the Monarch team took to always push the company to the next level. Their time and investment in our business allowed our team to do what we always knew we could do, build an industry leading eyecare provider with industry leading results."
“在过去的五年中,Monarch Alternative Capital成为了Shopko Optical的杰出合作伙伴和支持者,”Shopko Optical的首席执行官Russ Steinhorst表示:“他们早期看到了潜力,并充分支持了团队作为它依靠80个地点建立公司和切分开,随后提供资源和指导,使我们发展到今天拥有145个地点。我们赞赏Monarch团队采取的周到方法,总是将公司推向下一个水平。他们在我们的业务中的时间和投资使我们的团队能够做我们一直知道自己能做的事情,建立一个行业领先的眼部护理提供商,取得行业领先的结果。“
"We are delighted to have witnessed incredible growth in the Shopko Optical business over the past five years, thanks to the dedicated partnership with our outstanding management team," said Ian Glastein, Managing Principal at Monarch and Chairman of the Shopko Optical Board of Directors. "We wish the company continued success as it embarks on the next exciting chapter of its journey."
Monarch Alternative Capital的管理主管Ian Glastein和Shopko Optical董事会主席表示:“我们很高兴在过去的五年中看到Shopko Optical业务的令人难以置信的增长,这要归功于我们杰出的管理团队的合作伙伴关系。她希望该公司在进入旅程的下一个令人兴奋的篇章中继续获得成功。
Jefferies LLC is acting as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Shopko Optical.
Jefferies LLC担任Shopko Optical的财务顾问,Kirkland&Ellis LLP担任其法律顾问。
About Monarch Alternative Capital LP
关于Monarch Alternative Capital LP
Monarch Alternative Capital LP is a global investment firm founded in 2002 with over $14 billion in assets under management. Monarch focuses primarily on opportunistic credit and real estate across various market segments and instrument types. Monarch draws on the skills and experience of its employees across its offices in New York, London, and West Palm Beach. For more information, please visit .
Monarch Alternative Capital LP是一家于2002年成立的全球投资公司,管理超过140亿美元的资产。 Monarch主要专注于各种市场领域和工具类型的机会信贷和房地产。 Monarch利用其位于纽约,伦敦和西棕榈滩的办事处的员工的技能和经验。有关更多信息,请访问.
About Shopko Optical
关于Shopko Optical
Shopko Optical (Shoptikal Topco, Inc.) is an optical retailer operating more than 140 stores in Idaho, Illinois, Iowa, Michigan, Minnesota, Montana, Nebraska, North Dakota, Ohio, South Dakota, Utah, Washington and Wisconsin. The company generated US$168 million in sales in 2023. At year-end, 1,087 employees were driving the growth of Shopko Optical.
Shoptikal Topco,Inc.)是光学零售商,在爱达荷州,伊利诺伊州,爱荷华州,密歇根州,明尼苏达州,蒙大拿州,内布拉斯加州,北达科他州,俄亥俄州,南达科他州,犹他州,华盛顿州和威斯康辛州经营超过140家门店。该公司在2023年实现了1.68亿美元的销售额。年末,1087名员工推动了Shoptikal的增长。
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