Partners Group buys stake in Breitling
Partners Group has agreed to acquire a significant minority stake in Swiss watchmaker Breitling from CVC Capital Partners Fund VI and management.
Following the purchase, the private equity firm will partner with CVC Capital Partners and management to further accelerate Breitling’s growth through initiatives such as growing direct-to-consumer sales channels, expanding Breitling’s own retail network, and continuing to improve operational efficiency.
Georges Kern, chief executive of Breitling, said: “We are delighted to welcome Partners Group as an investor. With CVC and Partners Group we have a strong alliance to accomplish our ambitious targets to realise our immense potential to become one of the undisputed leaders in the Swiss watch industry.”
In line with Partners Group’s governance approach, its co-founder Alfred Gantner will join the Breitling board.
Gantner said: “Breitling is an iconic Swiss brand whose watches are instantly recognisable around the world for their quality and style. Under the leadership of Georges Kern, the company has enjoyed significant growth in recent years, and we believe it has significant potential to capture a wider audience of consumers globally. We wholeheartedly look forward to working with Georges and the CVC team to realise this next stage of growth for Breitling.”
