News

Advanced Search

Private Equity Firm Buys Out Breitling

Apr 30, 2017 10:57 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
CVC Capital Partners has bought an 80% stake in family-owned Swiss watchmaker Breitling SA, the private equity firm said Friday.

While details of the transaction were not disclosed, Reuters cited an unnamed source valuing the deal at $875 million (EUR 800 million).

CVC expects to drive Breitling’s growth in existing and new markets through the digitization of its marketing and distribution channels, explained Daniel Pindur, CVC’s managing director. As part of the deal, Breitling’s majority owner, Théodore Schneider, will re-invest for a 20% shareholding in company.

“I am convinced CVC is the right partner to elevate Breitling to the next level,” Schneider said. “CVC’s expertise, track record and international network will help unlock Breitling’s full potential.”

Breitling was founded in 1884 and developed with a strong focus on aviation, eventually becoming a benchmark for pilots’ timepieces.

* Picture by Steven Byles via Flickr.
Tags: Aviation, Breitling, CVC Capital Partners, Rapaport News, watches
Similar Articles
BaselworldBaselworld Back in New Format
Jun 27, 2021
Baselworld will return primarily as a business-to-business platform targeting the mid-range luxury segment, with live events
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.