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EQS-News: Fielmann Group AG / Key word(s): Expansion/Takeover
Fielmann Group closes acquisition of Shopko Optical and increases FY2024 outlook (news with additional features)
2024-07-01 / 14:27 CET/CEST
The issuer is solely responsible for the content of this announcement.
Fielmann Group closes acquisition of Shopko Optical and increases FY2024 outlook
German family business forms leading optical retailer in the Upper Midwest of the United States

. Shopko Optical acquisition closed today, business will be consolidated from 1 July 2024
. Fielmann Group's FY2024 sales outlook upgraded to around EUR2.3 billion (+15% over last year), EBITDA
margin remains in line with previously issued guidance
HAMBURG, GERMANY / DETROIT, MICHIGAN & GREEN BAY, WISCONSIN, USA - 1 July 2024 - The Fielmann Group, a leading global
eyewear provider, announced today that it has closed on its acquisition of Shopko Optical. This transaction was signed
on 10 June 2024. It marks another important milestone in the German family business' plans to expand internationally
and execute on its Vision 2025 growth strategy.
Shopko Optical is consolidated as part of the Fielmann Group as of 1 July 2024 and will contribute six months of
business sales this year. As our existing business performs in line with our prognosis communicated in April, we raise
our sales outlook for 2024 proportionally to around EUR 2.3 billion (previously: around EUR 2.2 billion). Shopko Optical
has a similar margin profile as the Fielmann Group. However, the company's FY2024 profit contribution is expected to be
limited, as the North America segment will be affected by transaction and integration costs.
Marc Fielmann, CEO of the Fielmann Group: "Fielmann's purpose is to help everyone hear and see the beauty in the world.
With the addition of Shopko Optical we are delighted to welcome 1,100 new members to our family business. Together with
our great teams from SVS Vision and Befitting, we look forward to redefining what US customers can expect of eyecare
and eyewear."
Lukas Ruecker, CEO of Fielmann USA, Inc.: "Fielmann USA is growing strongly and gaining market share. We have enhanced
the service and quality our customers have come to expect, expanded capacity to significantly shorten the waiting time
to get an eye exam and introduced a novel omnichannel shopping experience. In the coming months, changes in our
assortment and service are going to further improve the customer experience, especially for consumers with insurance.
By joining forces with the great team at Shopko Optical we are thrilled to extend our unique offering to millions of
people across the Midwest."
Fielmann USA is pleased to announce an addition to its Executive Management: Russ Steinhorst, former CEO of Shopko
Optical, has been appointed Executive Vice President and Chief Financial Officer (CFO) of Fielmann USA. Lukas Ruecker
continues: "With Russ Steinhorst we welcome an industry veteran with an outstanding track record in re-building Shopko
Optical and turning it into a leading optical retailer across Wisconsin, Nebraska, and Minnesota, in addition to 10
other US states. We also extend a warm welcome to the many other Shopko Optical executives that have joined our family
business and will be part of our mission to redefine the customer experience across the Midwest."
More information on the Shopko Optical transaction and our US strategy will be provided during Fielmann Group's Annual
General Meeting on 11 July 2024.
Hamburg, Germany - 1 July 2024
Fielmann Group AG
The Management Board
About Fielmann Group AG
The Fielmann Group is a German family business that serves 29 million customers with eyewear, contact lenses, hearing
aids and primary eyecare services. It operates an omnichannel platform consisting of digital sales channels and more
than 1,200 retail stores worldwide. Founded in 1972, the company is led by Marc Fielmann, representing the second
generation of the Fielmann Family who still owns the majority of the company's stock. By staying true to its
customer-centric values, the Fielmann Group helps everyone hear and see the beauty in the world. Thanks to the
dedication of its 24,000 people worldwide, the company is consistently reaching customer satisfaction and retention
rates of more than 90% and has to-date fitted more than 200 million pairs of individual prescription glasses.
About 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 USUSD168 million in sales in 2023. At year-end, close to 1,100 employees were driving the growth of Shopko
Optical.
Pictures
Find high-resolution pictures for download at https://www.fielmann-group.com/en/news/
The images are free for editorial use in context with Fielmann.
Further information
Katrin Carstens · Director Communications & Public Relations · press@fielmann.com · Phone +49 40 270 76-5907
Ulrich Brockmann · Director Investor Relations · investorrelations@fielmann.com · Phone +49 40 270 76-442

Additional features:
File: Shopko Optical Store_4c
File: Marc Fielmann_CEO_Lukas Ruecker_CEO Fielmann USA_4c
File: Russ Steinhorst_Executive Vice President and CFO of Fielmann USA
2024-07-01 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      Fielmann Group AG 

Weidestrasse 118 a
22083 Hamburg
Germany

Phone:        +49 40 270 76-0 
Fax:          +49 40 270 76-390 
Internet:     www.fielmann-group.com 
ISIN:         DE0005772206 
WKN:          577220 
Indices:      SDAX 
Listed:       Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; 

Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1934903

End of News EQS News Service
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1934903 2024-07-01 CET/CEST

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July 01, 2024 08:31 ET (12:31 GMT)