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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Date of Report: AUGUST 31, 1999
(Date of earliest event reported)
EYE CARE CENTERS OF AMERICA, INC.
(Exact name of registrant as specified in its charter)
TEXAS 333-56551 74-233775
(State or other jurisdiction of (Commission file number) (IRS employer
incorporation or organization) identification no.)
11103 WEST AVENUE
SAN ANTONIO, TEXAS 78213-1392
(Address of principal executive offices, including zip code)
(210) 340-3531
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On August 31, 1999, Eye Care Centers of America, Inc. (the "Company") acquired
from Vision Twenty-One, Inc. ("Vision Twenty-One") and its subsidiary, The
Complete Optical Laboratory, Ltd., Corp. (the "Subsidiary"), substantially all
of the assets used to operate 76 retail eyewear outlets pursuant to that certain
Asset Purchase Agreement, dated July 7, 1999, by and among the Company, Vision
Twenty-One and the Subsidiary (the "Vision Twenty-One Retail Acquisition") . As
a result of this acquisition, the Company (through its subsidiaries) (i) owns
and operates 39 stores under the name "Vision World" in Minnesota, North Dakota,
Iowa, South Dakota, and Wisconsin and 18 stores under the name "Stein Optical"
in Wisconsin, and (ii) manages 19 stores under the name "Eye Drx" in New Jersey
pursuant to a business management agreement with a private optometrist
(collectively, the "Acquired Businesses").
The aggregate cash consideration paid by the Company to Vision Twenty-One and
the Subsidiary in the Vision Twenty-One Retail Acquisition was $36.5 million
(the purchase price being subject to an adjustment based upon a final audit of
these retail operations as of August 31, 1999). The Company utilized its
existing $100.0 million acquisition facility to finance the transaction.
Simultaneously with the closing, the Company entered into a strategic alliance
with Vision Twenty-One involving their respective managed care programs and the
co-marketing of Vision Twenty-One's refractive surgery program.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
EYE CARE CENTERS OF AMERICA, INC.
September 15, 1999 /s/ Alan E. Wiley
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Dated Alan E. Wiley
Executive Vice President and
Chief Financial Officer
