Caisse investing in vision-care company; Ontario Teachers’, AIMCo selling governance solutions firm
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“FFL, [the Caisse] and the Dr. H. Doug Barnes Family, with their industry experience and financial strengths, are the ideal partners to take New Look Vision to the next level of development and success,” said John Bennett, New Look’s chairman and principal shareholder, in a statement.
New Look Vision sells prescription and non-prescription glasses, contact lenses and sunglasses, and it has a network of 406 stores under several banners, including: New Look Eyewear, Vogue Optical, Greiche & Scaff, Iris and Edward Beiner, noted the release.
“We are proud to support New Look Vision . . . and bring our constructive capital approach toward helping the business continue to expand both domestically and internationally,” said Kim Thomassin, the Caisse’s executive vice-president and head of investments in Quebec and stewardship investing, said in a statement.
Read: Caisse investing in wind and solar projects, AIMCo in German real estate
The acquisition is still subject to shareholder and other approvals but is expected to close in the first half of this year.
In other investment news, the Ontario Teachers’ Pension Plan Board and the Alberta Investment Management Corporation are selling their stake in Glass Lewis to Peloton Capital Management and Stephen Smith.
A provider of independent global governance solutions, Glass Lewis has teams located throughout the U.S., Europe and Asia-Pacific. “Peloton Capital Management and Stephen are committed to long-term, sustainable value creation through good governance. This aligns strongly with the core values we have established at Glass Lewis,” said Kevin Cameron, the organization’s executive chair, in a press release. “Together, we can advance our mission to help our customers drive value across their governance and stewardship activities.”