Swatch Group Acquires Simon Et Membrez

Swatch Group recently announced that it has purchased watch case manufacturer Simon Et Membrez for an undisclosed amount. Swatch will acquire 100 percent of the shares and a related 60 percent holding in Termiboites.

Simon Et Membrez produces watch cases at top prices out of gold, platinum, titanium, palladium and steels. The company has a history of business relationships with Swatch Group through watch brands such as Blancpain and Breguet.

Simon Et Membrez will continue to trade under its own name and CEO Philippe Membrez will still be responsible for business operations.

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Source: www.marketwatch.com

Photo Source: www.watchfreeks.com