DRAPER, Utah, July 25 /PRNewswire-FirstCall/ -- 1-800 CONTACTS, INC.
(Nasdaq: CTAC) (the "Company" or "1-800 CONTACTS") today announced that it
has established Monday, August 6, 2007 as the record date for its
stockholders entitled to consider and vote upon a proposal to approve and
adopt the merger agreement, dated as of June 3, 2007, among 1-800 CONTACTS
and affiliates of Fenway Partners, LLC, pursuant to which Fenway Partners
has agreed to acquire 1-800 CONTACTS for $24.25 per share. 1-800 CONTACTS
stockholders of record at the close of business on the record date will be
entitled to notice of the special meeting and to vote on the proposal.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040107/LACONTACTSLOGO)
About 1-800 CONTACTS, INC.
1-800 CONTACTS offers consumers an attractive alternative for obtaining
replacement contact lenses in terms of convenience, price, and speed of
delivery. Through its easy-to-remember, toll-free telephone number, "1-800
CONTACTS" (1-800-266-8228), and its Internet web site,
http://www.1800contacts.com, the Company sells all of the popular brands of
contact lenses. 1-800 CONTACTS offers products at competitive prices, while
delivering a high level of customer service.
About Fenway Partners, LLC
Fenway Partners, LLC is a middle market private equity firm with
offices in New York and Los Angeles and $1.7 billion under management.
Fenway companies typically have leading franchises and operate in two core
industry segments, branded consumer products and transportation/logistics.
With significant knowledge and success investing in these industries,
Fenway has built a strong reputation for its hands-on approach to
supporting its portfolio companies which include sporting goods
manufacturer Easton Bell Sports, school yearbook and class ring
manufacturer American Achievement, leading global supplier of mobile
computing cases and accessories Targus International, expedited ground
transportation provider Panther Expedited Services and intermodal logistics
service provider RoadLink USA. For further information about Fenway
Partners, please visit http://www.fenwaypartners.com.
Forward-looking Statements
This press release contains a number of statements about the Company's
future business prospects which are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include all statements which are not purely
historical and include, but are not necessarily limited to, all statements
relating in any way to the proposed transaction with Fenway Partners. All
such forward-looking statements are based upon information available to the
Company as of the date hereof, and the Company disclaims any intention or
obligation to update any such forward-looking statements. Actual results
could differ materially from current expectations. Factors that could cause
or contribute to such differences include, among others, the risks and
uncertainties identified in the reports filed from time to time by the
Company with the U.S. Securities and Exchange Commission, including the
Company's most recent Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q. Information on the Company's websites, other than the
information specifically referenced in this press release, shall not be
deemed to be part of this press release.
Additional Information About the Merger
1-800 CONTACTS, INC. will file with the Securities and Exchange
Commission (the "SEC"), and furnish to its stockholders, a definitive proxy
statement soliciting proxies for the meeting of its stockholders to be
called with respect to the proposed merger between the Company and the
affiliates of Fenway Partners. 1-800 CONTACTS STOCKHOLDERS ARE ADVISED TO
READ THE PROXY STATEMENT WHEN IT IS FINALIZED AND DISTRIBUTED TO THEM
BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. 1-800 CONTACTS stockholders
and other interested parties will be able to obtain, without charge, a copy
of the proxy statement (when available) and other relevant documents filed
with the SEC from the SEC's website at http://www.sec.gov. 1-800 CONTACTS
stockholders and other interested parties will also be able to obtain,
without charge, a copy of the proxy statement (when available) and other
relevant documents by directing a request by mail or telephone to 1-800
CONTACTS, INC., 66 E. Wadsworth Park Drive, Draper, Utah 84020, Attention:
Corporate Secretary, telephone: (801) 316-5000, or from the Company's
website, http://www.1800contacts.com.
1-800 CONTACTS and certain of its directors, executive officers and
other members of management and employees may, under SEC rules, be deemed
to be "participants" in the solicitation of proxies from stockholders of
1-800 CONTACTS with respect to the proposed merger. Information regarding
the persons who may be considered "participants" in the solicitation of
proxies will be set forth in the Company's definitive proxy statement
relating to the proposed merger when it is filed with the SEC. Information
regarding certain of these persons and their beneficial ownership of 1-800
CONTACTS common stock as of April 3, 2007 is also set forth in the
Company's proxy statement for its 2007 Annual Meeting of Stockholders,
which was filed with the SEC on April 17, 2007.
SOURCE 1-800 CONTACTS, INC.
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Related links:
http://www.contacts.com
http://www.fenwaypartners.com
CONTACT:
Brian W. Bethers, President, and Robert G.
Hunter, CFO of 1-800 CONTACTS, INC., +1-801-316-5000,
investors@contacts.com; or Anna Cordasco or Brooke Morganstein of
Sard Verbinnen & Co., +1-212-687-8080, both for Fenway Partners
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