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news 02, May 2017 04:46pm
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Breitling sold to CVC Capital Partners

Luxembourg-based private equity firm, CVC Capital Partners have acquired a majority stake in the family-owned Swiss watchmaker, Breitling, in a deal amounting to more than 800 million euros.

Headquartered in Grenchen, Switzerland, the manufacture of high performance chronometers, Breitling, is all set to embark onto the next chapter with the private equity firm, CVC Capital Partners. The deal is said to be finalised in June 2017, with the firm holding 80% stake in Breitling. Thereby implying that Théodore Schneider, CEO Breitling SA, will have to reinvest for a 20% shareholding in the esteemed brand.

"Using our network and expertise, CVC will work to make this global, iconic brand even more renowned and help shape the future of one of Switzerland’s last independent watch manufacturers." Daniel Pindur Senior Managing Director, CVC Capital Partners

 

“Using our network and expertise, CVC will work to make this global, iconic brand even more renowned and help shape the future of one of Switzerland’s last independent watch manufacturers,” added Daniel Pindur, Senior Managing Director at CVC. “Specifically, we see significant growth potential for Breitling in both existing and new geographies by driving the digitization of the marketing and distribution channels in the company, helping to enrich the product and customer experience.”

Deemed to be one of the last few family-owned watch companies standing, Breitling will now be a part of the CVC management. Entrusted by around 300 governmental, institutional, and private investors worldwide, the brand will be a part of their total estimated assets which amount to a little over 50 million USD.

Stay tuned to this space as the story develops further!

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