August 15, 2020
CECOP announced that it has acquired Combine Buying Group (“CBG”), marking its entry into the North American market and increasing its global membership of opticians and optometrists by more than 10%. Dinan, Translink affiliate in the US acted as financial advisor to the buyer.
The acquisition is the first step in the firm’s aggressive strategy to acquire significant market share in North America and demonstrate its commitment to the US market. CECOP plans to leverage proven strategies for success gleaned from nearly 25 years of growth in the independent optical market globally, plus market insights locally, to deliver unmatched value to members and partner suppliers across the US.
Founded in 1996 as an alliance to help independent opticians compete with larger, corporate providers and retailers, CECOP has evolved into a global association delivering collective buying power, operational best practices, strategic solutions and other services to 4500 independent opticians and optometrists and more than 120 brand partners across Europe and Latin America. CECOP helps members most effectively manage their businesses and grow customer loyalty; it also helps partner manufacturers in the optical space reach, build brand awareness and grow business with an active group of buyers.
“CECOP will work hard to earn the trust and loyalty of CBG members in the U.S.,” said CECOP Founder and CEO Jorge Rubio. “We are excited to bring the advancements we’ve developed in European and Latin American markets to our new North American customers and know that they’ll benefit significantly from the solutions we have planned. Our goal is to be a true partner to optometrist entrepreneurs, to be by their side, helping them achieve their dreams.”
Driving CECOP’s international success has been its ability to collaborate with local partners who can add value to independent optometrists—particularly in these challenging conditions. This strategy will continue to drive CECOP’s success in the North American market. “We look forward to growing the network of U.S. manufacturers and brands that are eager to share unique offerings with our members,” said Ignacio Macias, CEO, CECOP North America. “And we are convinced that independent optometrists across North America will find in our community a fundamental place of collaboration to successfully overcome market challenges and provide great value to patients.”
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Dinan & Company, LLC is the partner firm of Translink Corporate Finance in the United States. It is a leading diversified financial services company with over 32 years of advisory and merchant banking experience dedicated to middle-market transactions.