Safilo acquires 25 percent stake in Inspecs for 21.7 million pounds

Safilo has announced its acquisition of shares in Inspecs Group. Between December 15 and 18, the company purchased a total of 25 percent of Inspecs' share capital for approximately 21.7 million pounds.

In a statement, the management explained that this shareholding “reflects Safilo’s confidence in the long-term prospects of Inspecs, offering the group a strategic opportunity in the company's future developments”.

On December 15, Safilo announced that it did not intend to make a binding offer for Inspecs, a British eyewear company.

This announcement followed the news on December 10 that the boards of Bidco 1125 Limited and Inspecs had reached an agreement. The terms concerned a recommended cash acquisition by Bidco for the entire share capital of Inspecs.

Bidco is a newly formed company, controlled by Luke Johnson and Ian Livingstone, established specifically for the acquisition. Last November, Safilo approached Inspecs with a potential offer for its Eschenbach Group and BoDe businesses, and was also considering a potential offer for the entire company.

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