Eyewear retailer Bayfields views expansion following investment
Independent optical group Bayfields Opticians is planning to double the size of its store portfolio over the next four years after securing an investment from BGF.
The retailer, which stocks a wide range of designer frames from high-end brands including Dior, Prada, Michael Kors and Chanel, currently operates 19 sites in County Durham, Lancashire, Hampshire, Surrey and Yorkshire.
The undisclosed investment will be used to support the company’s organic growth, including further rollout of its audiology services, as well as driving the expansion strategy.
Royston Bayfield, founder and CEO of Bayfields Opticians and Audiologists, commented: “In the last 15 years, the Bayfields group has grown exceptionally well, whilst keeping front of mind our values, our local relationships with clients and our high-quality expertise through our expanding team of optometry and audiology specialists.”
He added: “We are delighted to be welcoming BGF to the Bayfields family as our long-term investment partner. The team has great sector expertise and a real understanding of our vision for the business, which will be invaluable as we enter this next stage of growth.”
BGF, the UK and Ireland’s most active investor in growing businesses, has invested in various fashion and consumer brands, including Seasalt, Trouva and Sophia Webster.
“We first met Royston and the team in 2015 and have since seen them expand the Bayfields brand impressively, developing a market-leading offering through investment in technology, expansion of its product ranges and a commitment to the highest quality of care for its growing customer base,” said Chris Boyes, an investor at BGF.
“The market for growth through acquisitions in this sector is significant, and with a proven management team and strong central platform, Bayfields is in a strong position to capitalise on growth opportunities in the future.”
Bayfields was founded at a single site in 2004. It currently employs more than 160 staff across the UK, including 70 specialists, and has revenues of £12 million.
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