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Article: The Salt Lake Tribune business briefs column.(Column)
- Article from:
- The Salt Lake Tribune (Salt Lake City, UT)
- Article date:
- July 6, 2007
CopyrightCOPYRIGHT 2007 The Salt Lake Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jul. 6--DRAPER-BASED 1-800 CONTACTS CLOSES $32M DEAL: 1-800 Contacts, Inc. has closed a previously announced sale that helped pave the way for the company's acquisition by a private equity firm, Fenway Partners Inc., for $340 million in cash.
Draper-based 1-800 Contacts said Wednesday it has closed on a $32 million cash deal (with considerations) for its ClearLab business. ClearLab's flat-pack technology and other intellectual property were sold to Menicon Co. Ltd., Japan's largest independent contact lens manufacturer, while ClearLab's manufacturing, distribution and customer-support operations were sold to Mi Gwang Contact Lens Co., Ltd. of South Korea.