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Private equity giant KKR & Co Inc. announced that it has agreed to acquire 1-800 Contacts, the largest online contact lens retailer in the United States. The financial terms of the deal were not disclosed, but it is believed that the transaction is valued at around $3 billion. KKR will be acquiring 1-800 Contacts from AEA Investors, another private equity firm.

1-800 Contacts was founded in 1995 and has grown to become a leading player in the online contact lens market. The company offers a wide range of contact lens brands and types, as well as prescription eyeglasses. With a strong e-commerce platform and a focus on customer service, 1-800 Contacts has built a loyal customer base over the years.

The acquisition of 1-800 Contacts by KKR is expected to provide the online retailer with the resources and support needed to continue its growth trajectory. KKR has a strong track record of investing in and growing companies across various industries, making it well-positioned to help 1-800 Contacts expand its market reach and offerings.

According to KKR, the investment in 1-800 Contacts aligns with its strategy of investing in companies with strong growth potential and market leadership positions. The acquisition is subject to regulatory approvals and is expected to close in the coming months.

Industry analysts believe that the acquisition of 1-800 Contacts by KKR could have a positive impact on the online contact lens market as a whole. By injecting additional capital and expertise into the company, KKR could help drive innovation and expansion within the industry, benefiting both customers and competitors.

Overall, the acquisition of 1-800 Contacts by KKR represents a significant development in the online contact lens market. With the financial backing and support of KKR, 1-800 Contacts is well-positioned to continue its growth and solidify its position as a leading player in the industry. The deal is expected to close in the near future, pending regulatory approvals.