Luxury watch maker Breitling has recently been sold to CVC Capital Partners for over $870 million. The transaction between Breitling and CVC Capital Partners is expected to complete by around June 2017, subject to approval by competition authorities. This sale is a major development in the watch industry, for until now Breitling remained one of the few independently owned luxury watch makers. However, previous majority owner Theodore Schneider will remain with Breitling as part of the CVC Capital Partners deal, as he agreed to re-invest for a 20% stake in Breitling. We’ll be watching this brand’s future closely.
