The Spectacle Site has been acquired by EyeQ Optometrists-National Optical Care (NOC), with the deal comprising five Melbourne and Victorian practices and a Canberra location trading as Specialeyes.
The purchase now sees EyeQ-NOC gain a stronger foothold in Victoria, while expanding its practice network to 46 locations, with another expected to join in the next week.
The Spectacle Site acquisition comprises practices in Croydon North, Croydon Central, Rowville, Healesville, and Seymour – all in Victoria – as well as Specialeyes in Canberra to complement EyeQ-NOC’s existing ACT practices.
The Spectacle Site’s Boronia location was not included in the deal due to a different ownership structure and will continue to operate as an independent site.
EyeQ-NOC general manager of eyecare and professional services Ms Lily Wegrzynowski told Insight the practices had been acquired under a full ownership model, with all teams, including more than 20 staff, retained across the practices.
“The Spectacle Site group of practices had most recently been under private ownership with the owners having had no prior experience in the optical industry,” she said.
“The transition to EyeQ-NOC ownership will help deliver more resources to these practices as a result of being a part of an optical group with extensive optical experience and support.”
She said the acquisitions were settled in mid-April and are already operating under EyeQ-NOC ownership.
“The latest acquisitions take the total of practices in the EyeQ-NOC network to 46 with another practice to join next week, making the total 47,” Wegrzynowski said.
“To date the network has been strongly represented in NSW and Queensland, however the network is growing in Victoria, particularly given that Victoria is a state well-resourced with optometry practices. Our growth has also been concentrated on the eastern seaboard to enable the best support and resources for the newly acquired practices.”
On its website, The Spectacle Site prided itself on being eyecare-led and 100% Australian-owned and operated. Most of its practices are equipped to cut and fit lenses in-store, and offer other services like contact lens fitting and intense pulsed light (IPL) therapy.