GCA becomes part of Houlihan Lokey


Transaction Details

July 11, 2017


Consumer / Retail / E-commerce / Leisure, Luxury

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GCA Advises Breitling on Its Sale of a Majority Stake to CVC

GCA acted as exclusive financial advisor to Breitling SA, a leading independent, family-owned manufacturer of Swiss luxury watches and an internationally renowned premium brand, on its sale of an 80% stake to CVC Capital Partners' CVC Fund VI. This transaction is GCA’s 14th advisory in the consumer retail and e-commerce sector since the start of 2017.

Founded in 1884, Breitling specializes in the development and manufacture of high-performance watches sold in exclusive boutiques and via selected retailers worldwide. The company’s seminal innovations have played a decisive role in the development of wrist chronographs.

As part of the transaction, Breitling’s current majority owner and CEO Théodore Schneider, the son of Ernest Schneider who bought the company in 1979, will retain a 20% ownership stake through a reinvestment.

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

Alexander Dibelius, Managing Partner and Head of Germany at CVC, commented: “Breitling has a proud heritage, high brand awareness, and enjoys an excellent reputation as one of the finest watchmakers in the world. We very much look forward to working with Théodore Schneider as we embark on Breitling’s next chapter of growth.”

“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.”

Closing of the transaction is subject to approval by the relevant competition authorities and is expected for June 2017. Financial terms were not disclosed.

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