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AEA acquires majority interest in 1-800 CONTACTS

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AEA Investors entered into a definitive agreement to gain a majority interest of 1-800 CONTACTS Inc. from Thomas H. Lee Partners, LP, who remains a significant shareholder in the company.

The debt financing is provided by Credit Suisse, Barclays and an affiliate of the Merchant banking Division of Goldman Sachs, according to a press release.

"We welcome AEA's new investment alongside Thomas H. Lee Partners 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," Brian Bethers, CEO of 1-800 CONTACTS, said in the release.