AEA Investors, LP (“AEA”) announced today that it has entered into a definitive agreement to acquire a majority interest of 1-800 Contacts, Inc. (the “Company”) from Thomas H. Lee Partners, L.P. (“THL”), who will remain a significant shareholder in the Company. Credit Suisse and Barclays, as well as an affiliate of the Merchant Banking Division of Goldman Sachs, are providing debt financing to support the purchase. Terms of the transaction were not disclosed.
“We welcome AEA’s new investment alongside THL as a strong reflection of the Company’s success in growing its business and an indication of how well 1-800 Contacts is positioned in the marketplace,” said Brian Bethers, CEO of 1-800 Contacts. “We intend to maintain and extend the Company’s market leading strategies and exceptional customer service through a continued commitment to our core values.”
AEA was advised by Credit Suisse and Barclays and THL and the Company were advised by CapM Advisors.
About 1-800 Contacts, Inc.
1-800 Contacts is the largest retailer of contact lenses in the United States, and is dedicated to making it easier for consumers to purchase contact lenses. Through its award-winning website (www.1800contacts.com), its easy-to-remember telephone number, and its 5-star mobile app, the Company has served almost 11 million customers, delivering more than 200,000 contact lenses every day. The Company also provides contact lens sourcing and fulfillment services to leading brick-and-mortar retailers.