Private equity firm San Francisco Equity Partners, or SFEP, Thursday said that it has acquired Zoom Eyeworks Inc., a designer and marketer of innovative, expressive eyewear products. The acquisition provides Zoom Eyeworks with the financial and strategic resources to capitalize on the growing demand for its brands, the firm noted.
Berkeley, California-based Zoom is a provider of nonprescription reading glasses in the U.S., with a product portfolio consisting of reading glasses, sunglasses and accessories. Zoom's brands, which include Zoom, Dr. Dean Edell and ICU, are sold in approximately 15,000 locations throughout the drug, food, convenience and specialty retail channels.
The transaction is jointly partnered by SFEP, Pacific Community Ventures and Simon Equity Partners, the private investment arm of the Simon family, founders of Simon Property Group Inc. (SPG). Simon Equity has previously partnered with SFEP to build pre-eminent consumer brands including homecare brand Method Products and personal care brand Yes To.
Managing Partner at SFEP Scott Potter said, "The market for nonprescription reading glasses is poised for disproportionate growth and will benefit from highly favorable demographic trends. Zoom's retail presence and brand portfolio present an opportunity for us to fundamentally change the readers category."
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