China Haidian acquires London-based Swiss watch seller Dreyfuss in all-share deal

April 15
8:32 AM 2014

China Haidian Holdings Ltd has snapped up The Dreyfuss Group, a British retailer of Swiss watches. The acquisition was done through an all-share deal, according to The Moodie Report.

Dreyfuss executive chairman Robert Dreyfuss said of the purchase: "This is excellent news for the future of the Dreyfuss Group. The management team is excited at the opportunities to continue to aggressively pursue our plans for further national and international expansion supported by the resources and sizeable distribution network of China Haidian Holdings Limited. In tandem with the Chelsea FC sponsorship, it will elevate Rotary into a global brand leader, whilst preserving and respecting our unique Swiss heritage, our family values and our existing long-term customer relationships."

Under the terms of the acquisition deal, Robert Dreyfuss will stay with the company after the completion of the deal. The purchase will allow the Dreyfuss brand to expand in Asia. In its home country alone, the watch retailer was able to grow the number of its outlets from zero to 200 in just 18 months. At present, the company has presence in more than 45 countries worldwide, the report detailed.

China Haidian already has a watch manufacturing firm in China. It also owns two top watch brands in the Asian country, The Moodie Report stated.

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