BATH, England—Inspecs Group (LSE: SPEC) announced it has completed its acquisition of Ego Eyewear, a design and licensing company which uses third party eyewear manufacturers to produce premium fashion brands. Ego Eyewear is based in Stockholm, with additional operations in London, Osaka and Hong Kong. Ego’s licensed brands include Barbour, Liberty of London, Viktor & Rolf, Lyle & Scott, Henry Lloyd and Joseph, and Nordic brands Ivana Helsinki, Valerie and Day, and its main distribution channel is through major optical chains. Second generation eyewear veterans Ronald and Johanna Gezang run the company.

Inspecs Group plc has acquired 100 percent of Ego Eyewear Limited and its operating subsidiaries in Sweden and Hong Kong for an initial consideration of £6.175 million ($8.278 million) and a deferred consideration partly based on performance over the next 3 years. Ego is expected to have revenue of £8.9 million ($11.9 million) for the year to Dec. 31, 2021 (2020: £3.4 million), and Inspecs expects the acquisition to be earnings enhancing for 2022.