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Swiss Private Equity Firm Set to Acquire 50.3% Stake in Breitling, Aims to Double Sales December 13, 2022 (0 comments)
Grenchen, Switzerland--Partners Group is in talks to acquire a majority stake in Swiss luxury brand Breitling.
[Image via Breitling]
According to a news report, having built up a minority stake in Breitling through its private market funds in the fall of 2021, Partners Group intends to acquire a 50.3 percent majority stake in the company.
The report adds that financial investor CVC, which has held a stake in Breitling since 2017, would still have a 23.6 percent stake in the company after the change.
The company's IPO goal seems more realistic with the change. The Managing Partner at CVC Capital Partners said in a statement last year that they were starting an IPO in a few years.
Per the report, the new ownership structure's goal is to double the company's sales and operating profit over the next five years.
Learn more in this report.