Loblaw to add 111 Specsavers locations

Executive Summary

• Specsavers Canada Inc. and Loblaw Companies Ltd. have entered a transformative partnership to open 111 new Specsavers optical locations within Loblaw grocery stores across Canada, effectively replacing the Theodore & Pringle brand which will cease operations.
• This expansion increases Specsavers' total Canadian footprint to more than 260 locations, establishing the company as the leading optical provider in the country.
• The deal marks Specsavers' entry into five new provinces (New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, and Saskatchewan) and one new territory (Yukon), while strengthening its presence in British Columbia, Alberta, Manitoba, and Ontario.

Key Details

• Transaction Structure: Partnership between Specsavers Canada Inc. and Loblaw Companies Ltd. to operate optical clinics within existing Loblaw retail spaces (Loblaws, Real Canadian Superstore, and Zehrs stores).
• Brand Transition: The Theodore & Pringle brand will cease operations, with all customers transitioning to Specsavers.
• Scale of Expansion: 111 new locations to be opened.
• Total Footprint: Specsavers' total Canadian locations will exceed 260.
• Geographic Reach:
  • New Markets: New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Saskatchewan, and Yukon.
  • Strengthened Markets: British Columbia, Alberta, Manitoba, and Ontario.
• Services Offered: Comprehensive eye examinations, prescription eyewear, contact lenses, and specialized eye care services including optical coherence tomography (OCT) technology.
• Staffing: All locations will be staffed by qualified independent optometrists and opticians.
• Timeline: The first wave of new locations is scheduled to open in September 2025, with additional locations opening throughout the remainder of the year.

Notable Quotes

• Bill Moir, Managing Director, Specsavers Canada: "This expansion represents a pivotal moment for eye care accessibility in Canada... By opening 111 new locations within trusted Loblaw locations, we're fundamentally improving how Canadians access the eye care they deserve."
• Irene Doody, Head of Optical, Loblaw Companies: "Theodore & Pringle was born from the belief that eye care should be convenient and affordable for everyone... Specsavers will provide a seamless transition for our optical customers while introducing them to a trusted global leader in eye care."