KKR Nears $3 Billion-Plus Deal to Buy 1-800 Contacts

KKR & Co. is in advanced talks to buy 1-800 Contacts for more than $3 billion from AEA Investors, according to people familiar with the matter.

KKR beat out rival private equity firms in an auction for the contact lens retailer, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and talks could still fall through, the people said.