Optical firm eyes further deals after Peebles swoop

● Acquisition of Dempster follows recent funding deal ● Duncan & Todd looks to further extend footprint

Duncan & Todd, the Aberdeen-headquartered optical business, has hit the acquisition trail just weeks after agreeing a major funding deal with Lloyds Banking Group.

The acquisition of Peeblesbased Dempster Opticians forms part of a national rollout of optician and hearing care services by Duncan & Todd, which was founded in 1972.

The deal, which follows a £15 million investment from LDC, the private equity arm of Lloyds, towards the end of last month, will strengthen the group’s presence in the Central Belt. It will also enable it to roll out its new audiology service.

The value of the deal to acquire Dempster Opticians, which has been located in Peebles for more than 40 years, has not been disclosed.

David Davidson, dispensing optician, who has been with Demspter Opticians since 2002, said: “Since my initial meeting with the management team at Duncan & Todd, I have been impressed with their welcoming and professional attitude and I am looking forward to an exciting future working alongside an innovative and forward-thinking organisation.”

Duncan & Todd operates through three divisions – retail, manufacturing and corporate – and employs more than 250 people across its national branch network and at its state-of-the-art ophthalmic lens laboratory, Caledonian Optical, in Aberdeen.

The firm also provides outsourced corporate eye care services to more than 200 public and private sector customers, through its Smart Employee Eyecare brand.

Chief executive Frances Rus said: “Dempster Opticians is a well-regarded optometrists in Peebles, having established a loyal customer base and reputation for high-quality customer service.

“Welcoming it into the group is an exciting opportunity for us as we look to extend our footprint and bring our market-leading services to new communities across Scotland.”

She added: “On partnering with LDC, the objective was to hit the ground running and identify quality practices that would fit well with the Duncan & Todd ethos of communitydriven primary optical care.

“This has been a significant step for the business as we enter the next phase of our growth ambitions. With an investment partner on board, we are now well placed to make further acquisitions and roll out complementary healthcare services.”

Colin Bennett, investment director at LDC, said: “Duncan & Todd’s first acquisition marks the management team’s intent and ability to pursue an active buy-andbuild strategy, as they look to cement the business’ position as Scotland’s primary optometry service. With this immediate momentum, we look forward to continuing to support the business’ expansion.”