16 NOV 2007
Richemont, the Swiss luxury goods group, is pleased to announce that it has acquired the watch case manufacturer, Donzé-Baume SA in a private transaction with the family shareholder group.
Donzé-Baume SA is based in Les Breuleux in the Jura canton of Switzerland and has some 300 employees working in the manufacture of watch cases and bracelets. The company supplies many of the leading Swiss specialist watchmaking companies, including a number of Richemont’s own Maisons
Both Mr Gérard Donzé and Mr Roland Donzé will retain their current positions and will continue to be responsible for the management of the company.
The transaction will have no material impact on Richemont’s consolidated net assets and is not expected to have any impact on the Group’s profitability for the year ending 31 March 2008.
Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.
In addition to its luxury goods business, Richemont holds an 19.3 per cent interest in British American Tobacco.