24-Apr-2013 | By: Vendôme Global Partners Back to News
April 24, 2013 ǀ New York, NY – Vendôme Global Partners (“Vendôme”), an international mergers and acquisitions advisor specializing in the Luxury Goods Sector, is pleased to announce the sale of Montres Corum Sàrl (“Corum”), a Swiss luxury designer and manufacturer of Haute Horlogerie timepieces, to China Haidian Holdings Limited (“China Haidian”), a Hong Kong listed manufacturer and distributor of various proprietary and third-party watch brands in Asia, for a cash and stock consideration of CHF 86.0 million (US$ 91.0 million). The transaction is subject to receipt of certain regulatory approvals and is expected to close in the second quarter 2013.
As the lead advisor to Corum, Vendôme executed a highly customized and targeted global sales process, achieving a successful strategic partnership with China Haidian. Vendôme specializes in Connecting Creative Brands on a global basis:
Ms. Elsa Berry, Co-Founder and Managing Director of Vendôme, stated: “The sale of Montres Corum to China Haidian forms a unique strategic partnership and creates many opportunities for both Corum and China Haidian in terms of future growth prospects on a global basis, and in particular in the Asian markets. We are thrilled with the results of our process and the positive outcome for Corum and China Haidian.”
Mr. Richard E. Tomlin, Jr., the President and Chairman of The Severin Wunderman Group which owns Corum, stated: “I am very pleased with the outcome of the sales process. The team from Vendôme surpassed my expectations, providing value-added guidance throughout the process and quickly understanding our strategy and unique heritage to appropriately position the Company to a qualified global buyer network.”
Vendôme’s in-depth sector knowledge and transaction experience, strong and diverse global senior relationships and passion for recognizing and nurturing a brand’s long-term potential, provides the firm with a unique and specialized ability to find creative, strategic and value-added solutions for clients in the luxury goods and premium branded consumer product industries. Vendôme partners with clients to help them achieve their strategic objectives and has a heightened sensitivity to private businesses’ strategic, financial and specific concerns when seeking an independent, professional and trusted advisory partner.
For additional information, please visit www.VendomeGP.com or contact Elsa Berry, Co-Founder & Managing Director (EBerry@VendomeGP.com) and Louis Fabregas, Co-Founder & Managing Director (LFabregas@VendomeGP.com).
Montres Corum Sàrl – Founded in 1955 in La Chaux-de-Fonds, Switzerland, Corum is one of the few elite, global and sizeable Haute Horlogerie designers, manufacturers and marketers of Swiss luxury timepieces that are highly unique in both aesthetic design and technical function. Corum’s brand identity is centered on its two most historic and iconic collections, Bridges and Admiral’s Cup. Corum manufactures and assembles its watches internally, and continues to develop and expand its portfolio of proprietary Patrimony movements. With sales of approximately CHF 77.0 million (US$ 81.5 million), the Company sells its watches through an exclusive global distribution network of eight premier branded boutiques and through more than 600 high-end, independent specialty retailers in 95 countries.
Vendôme Global Partners LLC – With a mission to Connect Creative Brands, Vendôme is uniquely distinguished as a premier independent and global M&A, strategic and financial advisor to the Luxury, Beauty and Premium Branded Consumer industries. Founded and led by an experienced, entrepreneurial and dedicated team of professionals based in New York, Vendôme offers a range of client driven advisory services including customized sell-sides, divestitures and minority investment sales, targeted buy-sides and acquisition searches, strategic advisory and consulting, fairness opinions and valuations, and advice on capital raises, as well as direct investing. Through the firm’s exclusive focus on the premium branded consumer sectors, multi-decade expertise in cross-border M&A, deep relationships with industry leaders on a global basis and a client driven customized approach to creatively provide optimal strategic solutions, Vendôme uniquely serves a diverse clientele including innovative entrepreneur and founder-owned companies, mid-market international corporations, global strategic organizations, sector driven private equity groups, family offices/high net-worth individuals and non-traditional investors.