Fenway Partners to Sell 1-800 CONTACTS to WellPoint; Terms Not Disclosed; WSJ Reports $900M

Fenway Partners, a leading middle market private equity firm, today announced that it has entered into an agreement to sell 1-800 CONTACTS to WellPoint, Inc.

. Terms of the transaction were not disclosed. Peter Lamm, Co-Founder and Managing Partner of Fenway Partners, said, “We are very pleased with the outcome of our investment in 1-800 CONTACTS. Fenway has a long track record of successfully investing in and building branded consumer products companies, including Easton-Bell Sports and American Achievement as well as a prior successful investment in the luxury brand, Harry Winston. Fenway's experience with 1-800 CONTACTS is an instructive example of private equity partnering with management to create a better business – growing revenues, increasing domestic employment and payrolls, improving the customer value proposition and making significant investments in the future. We are delighted to have made such a positive impact on this company and that our Fenway Partners Fund investors will realize an attractive rate of return and an impressive multiple of capital.”