OC&C advises Afflelou on its continuation fund transaction with Lion Capital

We are delighted to have advised Afflelou on the successful establishment of a new continuation fund vehicle advised by Lion Capital, reinforcing the long-term partnership between the Group, its shareholders and management.

Founded by Alain Afflelou in 1972, Afflelou is one of Europe’s leading optical and hearing care franchise businesses, operating a network of more than 1,400 stores across France, Spain and several other international markets. The Group has continued to deliver strong operational performance, supported by the strength of its franchise model, recognised brand and innovative customer proposition.

The transaction sees a newly established continuation fund advised by Lion Capital become the Group’s new indirect majority shareholder, reflecting continued confidence in Afflelou’s long-term growth prospects. The Afflelou family remains a significant shareholder, maintaining its existing ownership position, while the Group’s management team has made a meaningful reinvestment alongside the continuation fund, further aligning interests for the next phase of growth.

OC&C was delighted to support Afflelou on this important milestone. The transaction highlights continued investor appetite for resilient, high-quality consumer and retail businesses with strong market positions and attractive long-term growth opportunities.

OC&C and Private Equity

We’re a leading global strategy consultancy with deep expertise across Retail, Consumer Services and Healthcare. We work with both major global corporations and private equity investors, advising on more than 500 transactions over the last five years across buy-side and sell-side situations. In Consumer Services, we help investors and brands understand and realise value creation potential by leveraging deep sector and topic expertise.

How we can help:

• Commercial due diligence and vendor due diligence for transactions.
• Growth strategy and value creation planning for portfolio companies.
• Strategic support for investors assessing new sectors and investment themes.
• Commercial insight to help management teams accelerate sustainable growth.

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