Unit's 2022 revenue 146.2 mln usd (Il Sole 24 Ore Radiocor) - Bern, 09 May - Watches of Switzerland said it has signed and completed the acquisition of the entire share capital of Roberto Coin Inc, an associate company of Italian handcrafted jewellery company Roberto Coin, for a total consideration of 130 million dollars.

Roberto Coin is the sixth largest jewellery brand in the US by sales at retail value. Roberto Coin Inc. has exclusive perpetual rights to import and distribute Roberto Coin jewellery throughout the US, Canada, Caribbean, and Central America. It sells to major department stores, jewellery chains, and independent jewellers in more than 400 points of sale.

Roberto Coin Inc. achieved annual revenue of 146.2 million dollars and pretax profit of 30.1 million for the audited financial year ended December 31, 2022.

The acquisition, which will be margin and earnings per share accretive from the date of acquisition, was financed via a new 115 million dollar term loan facility.

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(RADIOCOR) 09-05-24 09:42:59 (0226) 5 NNNN