FYidoctors Bolsters National Brand Portfolio with BonLook Acquisition
CALGARY, AB and MONTREAL, Nov. 25, 2021
Tech and fashion-driven brand joins leading diversified healthcare organization; Opens door to new consumer segment well positioned for national expansion
CALGARY, AB and MONTREAL, Nov. 25, 2021 /CNW/ - FYidoctors, Canada's leading diversified healthcare organization, is pleased to announce that it has acquired BonLook, the Montreal-based brand famous for its trendy styles and technology-driven approach to eyewear. The addition of BonLook boosts the FYidoctors portfolio with new opportunities to expand the brand nationally and beyond.
"We are delighted to welcome the BonLook team to FYidoctors," said Dr. Alan Ulsifer, Chair and CEO of FYidoctors. "BonLook strengthens our overall portfolio with a brand that stands apart with a modern consumer offering. We're here to support BonLook's growth and to continue offering unparalleled service to existing and new customers while creating business conditions for even more innovation to offer more quality products and superior services."
BonLook is a leading eyewear retailer founded in 2011 by Sophie Boulanger and Louis-Félix Boulanger. A pioneer in the online sale of branded prescription eyewear in Canada, the company now boasts 36 stores across five Canadian provinces. BonLook has developed a unique technology-driven approach in the field of optics. Known for its stylish frames, quality lenses and accessible prices, BonLook frequently collaborates with inspiring Canadian personalities. Its latest campaigns showcase Canada's diversity, and its chic, on-trend and sophisticated brand image has won over Canadian consumers for over a decade.
"We are thrilled to be joining the FYidoctors organization," said BonLook Co-founder and CEO Sophie Boulanger. "We saw an immediate upside for our brand and company when we analyzed synergies between our organizations. BonLook's entry into the FYidoctors family will provide the company and its employees with new strategic opportunities in this high growth market. Becoming a part of the FYi team ushers in a new chapter for us and it brings exciting growth, access to resources, and the opportunity to learn from their award-winning culture."
"We would like to thank the entire team at Walter Capital who were able to support us at various stages of our growth and allowed us to expand our brand across Canada in the past five years," added Louis-Félix Boulanger, Co-founder and COO of BonLook. "Their support, both financial and strategic, has helped bring us to the milestone we are celebrating today. We also want to thank Anges Québec who have been supporting us for many years."
BonLook's leadership team, helmed by CEO Sophie Boulanger and COO Louis-Félix Boulanger will continue in their current roles, with the added benefit of FYidoctors' team at-large offering support as required.
"We welcome the entire BonLook team as we embark on a new chapter in the development of this high potential brand. The addition of BonLook to our portfolio strengthens our positions in retail, manufacturing and optometry. FYidoctors can clearly lay claim to being the most vertically integrated eye care company in Canada", concluded Dr. Ulsifer.
Terms of the transaction are not being disclosed. Stifel GMP is acting as financial advisor to BonLook. Fasken Martineau DuMoulin LLP is acting as legal advisor to BonLook. Burnet, Duckworth & Palmer LLP is acting as legal advisor to FYidoctors.
FYidoctors is Canada's leading diversified healthcare organization. Doctor-led, professionally managed, and patient-focused, the organization concentrates on delivering outstanding eye care and medical aesthetics treatments along with patient-centric products and services. Recognized as one of Canada's Best Managed Companies in 2020 and 2021, the organization operates over 300 locations across the country. Rooted in a mission to enhance life, FYidoctors supports a wide array of philanthropic causes and initiatives. Through numerous community-centric programs and the Enhancing Life Foundation, FYidoctors enhances the lives of Canadians both inside and outside its clinic doors. For more information, please visit www.fyidoctors.com
BonLook offers an innovative sales experience along with products that have style and unfailing quality. Since its inception, the company has aimed to improve the accessibility of prescription glasses with the goal of creating a must-have fashion accessory with an unbeatable quality-price ratio. Initially launched online, the company now operates 36 stores in Canada. Today, BonLook defines itself as the ultimate destination to build a covetable eyewear wardrobe featuring styles designed in Montreal. For more information, please visit www.BonLook.ca
SOURCE District Ventures Management Ltd.