PAJA sells 160 outlets

Snowdon Management Group has bought more than 160 retail optical outlets - almost all of Standard Optical - from PAJA Group.Snowdon is owned by David Main, a retail and consumer products consultant, and Ian MacVicar, an investment banker and former vice-president...

Snowdon Management Group has bought more than 160 retail optical outlets – almost all of Standard Optical – from PAJA Group.

Snowdon is owned by David Main, a retail and consumer products consultant, and Ian MacVicar, an investment banker and former vice-president with GE Capital Canada and Merrill Lynch Canada.

This is the first acquisition for Snowdon, which was looking for a strong base to build on in the optical industry, a growing market sector.

Main says the focus will be on marketing and ‘rebuilding Standard Optical to its pre-eminent position.’

Standard has lost market share to quick-service optical outlets over the past few years because it ignored consumer demand for quick turnaround.

Advertising will continue to be handled by Standard’s advertising agency of 18 months, Geoffrey Roche & Partners of Toronto.

The stores operate under the names Shorney’s Optical, Braddock Optical, Optical Factory and Eaton’s Optical.

The 26 Optical Factory locations are franchises, and the Eaton’s Optical chain operates through a licensing agreement with Eaton’s department stores.

The umbrella company will be renamed Standard Optical.

paja retains ownership of Imperial Optical Canada, the country’s largest distributor of prescription eyewear.

The purchase of Standard was made in partnership with Schroder Canadian Buy-out Fund. PS