M&A Deal Summary

Lenskart Acquires OWNDAYS

On July 1, 2022, Lenskart acquired retailer OWNDAYS from L Catterton Partners for 400M USD

Acquisition Highlights
  • This is Lenskart’s 1st transaction in the Retail sector.
  • This is Lenskart’s largest (disclosed) transaction.
  • This is Lenskart’s 1st transaction in Japan.

M&A Deal Summary
Date 2022-07-01
Target OWNDAYS
Sector Retail
Buyer(s) Lenskart
Sellers(s) L Catterton Partners
Deal Type Add-on Acquisition
Deal Value 400M USD

Target

OWNDAYS

Tokyo, Japan
OWNDAYS is an innovative Japanese eyewear company that delivers rapid service, high-quality prescription glasses in own-brand styles. OWNDAYS, which began its successful expansion across Southeast Asia in 2013, has become Japan's most international optical eyewear retailer. With 115 stores in Japan and 142 stores in 10 other Asian markets, OWNDAYS has built a strong track record of successful expansion both in Japan and abroad. OWNDAYS was founded in 1989 and is based in Tokyo, Japan.

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Buyer(S) 1

Buyer

Lenskart

Gurgaon, India
Category Company
Founded 2010
Sector Retail
DESCRIPTION

Lenskart is an eyewear category. Lenskart has a pan-India presence through its footprint of over 700 franchisee managed stores spread across 115 cities and towns across all major states in India. Lenskart was founded in 2010 and is based in Gurgaon, India.

DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Japan) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 91 of 102
Sector (Retail) 7 of 8
Type (Add-on Acquisition) 41 of 46
Country (Japan) 1 of 1
Year (2022) 4 of 5
Size (of disclosed) 6 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Kettle Cuisine

Chelsea, Massachusetts, United States

Kettle Cuisine is an independent, artisan soup maker providing uncompromised soup with a commitment to impeccable ingredients, careful preparation and traditional cooking techniques. The company offers a selection of over 50 varieties of soups, chilis and chowders, and services over 5,000 restaurants, cafes, delicatessens and supermarkets in the United States. Kettle Cuisine was founded in 1986 and is based in Chelsea, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-13 iFIT

Logan, Utah, United States

iFIT is a global health and fitness technology company that provides unmatched fitness experiences and solutions to its growing community of millions of engaged members across 120 countries. iFIT’s industry-leading brands NordicTrack, ProForm, and Freemotion are powered by the iFIT integrated health and fitness platform, which seamlessly connects the company’s proprietary software, experiential content, and interactive hardware. iFIT offers immersive, adaptive, personalized subscription workout experiences for every fitness level and interest. iFIT delivers these patented interactive experiences through an extensive offering of live and on-demand content across a full range of fitness modalities. iFIT was founded in 1977 and is based in Logan, Utah.

Sell -
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