BOOTS' MERGER VISION

The enlarged company will have 690 practices and 5,000 staff, with the Dollond & Aitchison outlets gradually being rebranded under the Boots name.

It will overtake Vision Express and gain ground on industry leader Specsavers.

Pharmacy giant Alliance Boots will have a controlling stake in the business which it will jointly own with Dollond & Aitchison’s parent company De Rigo, the European spectacles maker behind brands such as Lozza and Police.

Boots Opticians chief Pradip Patel will be chairman of the new business, with counterpart Andy Ferguson becoming managing director.

Alliance Boots chairman Stefano Pessina said: “The merger gives us an excellent opportunity to create a leading force in the UK optical market.

“Our plan is to grow and develop the new business, building on the strengths of the Boots brand.”

Financial details were not disclosed, but the deal will be completed in the spring subject to regulatory approval.

CHECK THE LATEST SHARE PRICES HERE