Boots to merge optician unit with rival
Pharmacy giant Alliance Boots said on Thursday it would merge its optician division with rival Dolland & Aitchison, which is owned by Italian eyewear maker De Rigo.
"Alliance Boots announces today that it has reached agreement to create the second-largest optical chain in the UK, through the merger of its Boots Opticians business with Dollond & Aitchison," the firm said in a statement.
The new standalone business, known as Boots Opticians, will have about 690 branches and more than 5,000 staff.
Alliance Boots added that it would have a controlling stake in the new company which will have its headquarters in Nottingham.
The merger was expected to be completed in the second quarter of 2009, subject to regulatory approvals.
US private equity firm KKR bought Alliance Boots, Europe's biggest pharmacy chain, for 11 billion pounds in 2007.
Copyright 2009 AFP European Edition
