SAN FRANCISCO--(BUSINESS WIRE)--Pacific Community Ventures (PCV), a private equity firm focused on building small, high-growth businesses, is pleased to announce its successful participation in the acquisition of Zoom Eyeworks (Zoom), a leading designer and marketer of non-prescription reading glasses and sunglasses.
Based in Berkeley, California, Zoom is one of the largest providers of nonprescription reading glasses in the United States, with a product portfolio consisting of reading glasses, sunglasses and accessories. Zoom's brands, which include Zoom, Dr. Dean Edell and ICU, sell in approximately 15,000 locations throughout the drug, food, convenience and specialty retail channels. Zoom's products emphasize fashion, style and quality and offer a wide range of alternatives to traditional reading glasses for every occasion. ICU is one of the fastest-growing brands of fashion reading eyewear in the U.S. and has received Oprah‘s "O" pick multiple times.
“Zoom is poised for rapid growth thanks to their leading product design, favorable industry trends, and growing distribution footprint. There’s an opportunity to transform reading glasses into a more fashionable product category and we’re excited to be part of this transformation,” said Peter Mehrberg, Managing Director at PCV.
PCV invests in businesses that deliver exceptional financial returns while creating lasting high quality jobs for low and moderate income communities. Zoom manages a distribution facility in Hollister, California that employs 60 individuals from surrounding low to moderate income communities.
PCV partnered with San Francisco Equity Partners and Simon Equity Partners on this acquisition. All groups have significant experience in consumer products and their involvement, network, and financial resources will be fundamental in the Company’s growth.
ABOUT ZOOM EYEWORKS
Zoom Eyeworks is a leading designer and marketer of reading glasses, sunglasses and specialty eyewear. The company's brands have earned a reputation for high quality, innovative design and editorially acclaimed fashion. Zoom's products can be found in national retailers including Whole Foods, Anthropologie, Office Depot, Walmart and CVS. For more information please visit www.zoomeyeworks.com.
Pacific Community Ventures, LLC (PCV) is a venture and private equity investment firm focused on investing in small, high growth California businesses that bring economic benefit to low to moderate income employees and communities. PCV builds, develops and maximizes the value within these organizations for the benefit of owners, management and employees. PCV’s experienced team works closely with companies, providing hands on strategic and operational guidance in addition to capital. For more information, please visit www.pcvfund.com.