One of the most persistent rumors in the watch world has finally proven true: CVC Capital Partners, a Luxembourg-based private equity firm, announced today that it has agreed to acquire a majority stake in family-owned Swiss watch company Breitling, putting to rest several years of speculation as to whether the brand would remain independent or be acquired by a larger concern. Details on the transaction can be found below in CVC Capital Partners’ official press release; analysis of its impact on the watch industry will be forthcoming in WatchTime magazine and on WatchTime.com.
Above: Breitling Chronométrie headquarters in Switzerland; below, Breitling’s madison Avenue boutique in New York City

CVC CAPITAL PARTNERS FUND VI AGREES TO ACQUIRE MAJORITY STAKE IN BREITLING SA
CVC Capital Partners (“CVC”) today announced that CVC Fund VI has agreed to acquire an 80% stake in Breitling SA (“Breitling”), a leading independent, family-owned manufacturer of Swiss luxury watches and an internationally renowned premium brand. The financial terms of the transaction were not disclosed.
As part of the transaction, Théodore Schneider will re-invest for a 20% shareholding in Breitling.
Founded in 1884, Breitling specialises in the development and manufacture of high-performance watches. The company looks back on a heritage of seminal innovations that have played a decisive role in the development of wrist chronographs. Breitling employs approximately...