U.S. buyout firm KKR & Co Inc is in advanced talks to buy contact lens retailer 1-800 Contacts for more than $3 billion from investment firm AEA Investors, Bloomberg News reported on Tuesday, citing people familiar with the matter.
KKR beat out other private equity firms in an auction for Draper, Utah-based 1-800 Contacts, the report said.
The report added no final decision had been made and talks could still fall through.
KKR declined to comment, while 1-800 Contacts and AEA did not immediately respond to Reuters requests for comment.
Some analysts have said the online eye-wear industry is set to benefit from work-from-home policies as consumers increase purchases of protective glasses, with the shutting of mall-based retailers due to the COVID-19 pandemic also likely to drive a jump in market share.
Source: Reuters.com