Italian eyewear giant Safilo has acquired a 25 per cent stake in Inspecs for £21.7m.
Safilo announced its acquisition of shares in the Inspecs Group on 18 December, stating that the purchase took place between 15-18 December.
In a press statement, the company said the equity stake reflected its “confidence in Inspecs’ long-term prospects, providing the group with a strategic opportunity in the company’s future developments”.
The move comes after a consortium fronted by entrepreneur and investor Luke Johnson earlier this month announced a takeover offer valuing Inspecs at approximately £85.4m, reported Insider Media.