On Friday, April 28, 2017, CVC Capital Partners (“CVC”) announced that CVC Six Fund (Fund VI) would acquire an 80% stake in breitling 1884 fake. As part of the transaction, former controlling shareholder Théodore Schneider will hold the remaining 20% equity in the form of reinvestment. Bloomberg quoted an unnamed insider as saying that the deal was worth about 800 million euros.
CVC Capital Partners (“CVC”) is Europe’s largest private equity and investment advisory firm headquartered in London. Founded in 1884, Breitling focuses on the development and manufacture of high-performance watches. It is the leading independent family watchmaker in Switzerland and an internationally renowned luxury watch brand. Historically, the innovation of Breitling has played a decisive role in the development of chronographs. It has two watchmaking factories (one in Glenn and the other in La Chaux-de-Fonds), which are sold worldwide through exclusive boutiques and authorized retailers. Breitling replica watches Brand products.
“I believe that CVC is the right partner to take Breitling to the next level,” said Théodore Schneider, former owner of Centennial. “CVC’s expertise, past achievements, and international network will help unlock the full potential of Breitling.”
Alexander Dibelius, CVC’s managing partner and head of Germany, commented: “Breitling has a reputation for pride and a high reputation and enjoys an excellent reputation. It is one of the best watch brands in the world. We look forward to working with Théodore Schneider. Together, we will create a new chapter in the growth of Breitling’s business.”
“Using a comprehensive network and expertise, CVC will strive to make this global, iconic brand more visible and help shape the future of the only independent watchmakers in Switzerland,” added Daniel Pindur, Senior Managing Director of CVC. In other words, Breitling has significant growth potential in both existing and new regions. We will promote the digitalization of our marketing channels and enrich our product range and customer experience.”
The transaction is subject to the approval of the Competition Commission and is expected to be completed by June 2017.