Moulin and Golden Gate Capital Complete Acquisition of Ecca

Moulin Global Eyecare Holdings has completed the acquisition of a 56% controlling interest in Eye Care Centers of America (Ecca), the second largest stand-alone optical retail chain in the United States, with 378 stores in 33 states.

Golden Gate Capital, a San Francisco-based private equity firm, acquired 43% of Ecca, with the remaining shares acquired by Ecca management. The agreement to acquire all of Ecca from Thomas H. Lee Partners for $450 million was signed in December of last year and was subject to regulatory and shareholder approval.

Moulin's acquisition of Ecca is believed to be the first major acquisition of an American retail chain by a Chinese company.

Ecca, headquartered in San Antonio, Texas, will retain the Ecca name and its current management team, led by chairman and Ceo David E. McComas. Effective February 17, Moulin changed its name from Moulin International Holdings Limited to Moulin Global Eyecare Holdings Limited to better reflect its worldwide eyewear operations in more than 70 countries.

Ecca has also entered into a supply agreement with Moulin that provides incentives for Ecca and Moulin to work together more closely but without imposing on Ecca any specific purchase requirements.