Black & Lizars has its eyes on further ‘top-end’ acquisitions

VENERABLE opticians chain Black & Lizars yesterday unveiled plans to double in size to nearly 50 branches within two years as it shrugs off the financial challenges facing its rivals.

Chief executive Mark Ross said the Glasgow-based firm, which traces its roots back to 1830, will fund the expansion out of its existing cash reserves.

Ross said his chain does not share the financial problems that brought down part of rival David Moulsdale’s Optical Express earlier this week because Black & Lizars is targeting the “top end” of the market.

“We want to be the John Lewis of opticians,” Ross said. “There are people out there who are prepared to spend money on looking after their eyes.

“We’ve invested in new technology for our practices and in training for our staff, which I believe sets us apart from a lot of the chains. They competing on price and are involved in a race to the bottom.”

Ross said that his expansion strategy would consist of buying one-man practices as opticians retire and look to sell on their businesses. He will mainly focus on Scotland, but has already been approached by some businesses in England.

“I turn down more offers than I take,” Ross said. “They have to be the right practices. This is a controlled expansion. I think doubling our number of practices is realistic but I’m prepared to fall short if the right businesses don’t become available.”

Ross said smaller opticians are facing increased competition from chains such as Boots and Specsavers and also supermarkets such as Tesco.

Black & Lizars is owned by Yorkshire-based businessman John Hare, who is not taking dividends from the business but is instead leaving Ross with retained profits as a war chest for expansion.