Watches Of Switzerland Buys Roberto Coin U.S. Business For $130 Million [Forbes]
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Source: Forbes
Luxury watch and jewelry retailer, Watches of Switzerland, has acquired Roberto Coin Inc., the North America business division of the renowned Italian jewelry brand, for $130 million. The deal was announced Thursday. Under the terms of the agreement as revealed by the two companies, Watches of Switzerland (WOS) will have exclusive distribution rights and ownership of the Roberto Coin brand for its North American markets, which includes U.S., Canada, Central America and the Caribbean. WOS, in its statement, said the acquisition was financed by a $115 million term loan facility. Watches of Switzerland Group has 222 retail operations in the U.K., U.S. and Europe. It's U.S. business consists of 47 retail operations and includes fine jewelry retailers, Mayors and Betteridge. It has sold Roberto Coin jewelry in the U.S. for more than a decade. PROMOTED “As the owner of luxury jewelry retailers including Mayors and Betteridge in the U.S., and Mappin & Webb and Goldsmiths in the UK
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