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CVC should consider selling a stake in the luxury watch manufacturer Breitling


from

DPA

Published on



09/06/2021

According to insiders, CVC Capital Partners is considering selling a stake in the luxury watch manufacturer Breitling. Potential investors have signaled their interest to the financial investor, reported the Bloomberg news agency on Friday, citing people familiar with the matter. However, the private equity company wants to keep control of Breitling in order to benefit from future growth.

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Breitling

The company was founded in 1884 by Léon Breitling in Saint-Imier in the Bernese Jura and is one of the largestßer Swiss watch brands that are still independent. The company is best known for its timepieces with aviation motifs.

CVC acquired a majority stake of 80 percent in Breitling in 2017. The owner family around Theodore Schneider kept 20 percent. In July 2017, Georges Kern became the new head of Breitling. In November 2018, the remaining 20 percent of the shares were also sold to CVC. Georges Kern is also involved in the company.

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