Duncan and Todd expands with the acquisition of nine Black & Lizars stores
Duncan and Todd's latest acquisition makes it the largest independent optical provider in Scotland
Purchased for an undisclosed sum, it is the sixth acquisition that Duncan and Todd has completed since private equity firm, LDC, invested £15m in the opticians in March 2018.
Duncan and Todd confirmed that 56 Black & Lizars staff have been transferred to the group through the deal, increasing employees to 405.
Included in the acquisition is Black & Lizars’ two Aberdeen practices, which are currently being rebranded as Duncan and Todd Opticians.
The other seven practices, which are based in Perth, Stirling, Dalkeith, Haddington, Helensburgh, Ayr and Troon will be renamed under the 20 20 Opticians and Hearing Care brand.
Speaking about the acquisition, managing director of Duncan and Todd, Frances Rus, said: “We are delighted to welcome our new colleagues from Black & Lizars to the Duncan and Todd Group. As long-established independent opticians of a similar size and offering, this was an ideal fit for us in terms of the services provided and the branch network.”
Since the beginning of the LDC partnership, Duncan and Todd has added 15 practices to its portfolio.
Investment director at LDC in Edinburgh, Colin Bennett, explained: “Expanding the group’s retail footprint in Aberdeen and the central belt was quickly identified as a key growth objective for the business when we partnered with Frances and her team last year. Since then, we have supported Duncan and Todd to realise this ambition through an acquisitive growth strategy.”
Black & Lizars now has 13 practices based in Glasgow, Edinburgh and the surrounding areas.