Bucherer has acquired US-based luxury watch retailer Tourneau from an investor group led by Green Equity Investors.
Green Equity Investors is an affiliate of Los Angeles-based private equity firm Leonard Green & Partners.
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Bucherer Group CEO Guido Zumbühl said: “With over a century of expertise as the preeminent purveyor of fine watches in the US, Tourneau provides an exciting opportunity for the Bucherer Group to establish a footprint and extend our offering of fine watches and jewellery to the US.
“With this acquisition, we will immediately introduce the Bucherer brand to millions of potential customers in one of the most important global watch and jewellery markets.”
Tourneau has 28 retail locations spread across ten states in the country and a fully integrated e-commerce website.
Tourneau CEO Ira Melnitsky said: “Bucherer is a dream partner for Tourneau. A Swiss company with 130 years of history in the industry, Bucherer understands fine watches like few others, making them the ideal partner for Tourneau.
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By GlobalData“As our business continues to perform and grow, this is a natural next step for the company. With the backing of one the world’s leading watch retailers, Tourneau’s customers, business partners and employees will benefit from Bucherer’s expertise, innovation, unmatched product selection and services.”
