Synsam is the leading optical retailer in the Nordic region with a 28% overall market share and number one market positions in Sweden, Denmark (under the name Profil Optik) and Norway as well as a recently acquired 6% market share in Finland (building block for further expansion).
The company operates a network of some 340 Fully Owned Stores as well as some 130 Franchise Stores in the four countries. Synsam also has an online presence in Sweden, Denmark and Norway, which is currently primarily used as a marketing tool that allows customers to browse the frame assortment and book appointments for eye examinations.
The Synsam and Profil Optik operations have roots going back more than 40 years in the Swedish and Danish markets. Synsam was founded in Sweden in 1968 and Profil Optik was founded in Denmark in 1971. Both of the operations started as joint buying networks but over time common store concepts and marketing programmes were developed. The Synsam brand was introduced in Norway and Finland in the 1990s. Today's Synsam was created through three major transactions in 2007, 2010 and 2014, acquiring some 240 stores in Sweden, Denmark, Norway and Finland and integrating them into a Nordic chain with centralised functions.
I really look forward to continue to develop Synsam in close cooperation with CVC. CVC has an excellent track record of making long-term, value-creating investments in its portfolio companies and has extensive experience within retail.