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Family-run Swiss watch business The Dreyfuss Group has been acquired by China Haidian Holdings Limited (China Haidian) in an all share transaction.
The Hong Kong-listed investment company acquired 100% of the share capital from the Dreyfuss family, which has owned the business since it was founded in 1895.
The acquisition will see the Dreyfuss brand grow its presence in Asia, which has been a strategic region for the brand in recent years. Dreyfuss grew its presence from zero to 400 retail outlets in 18 months in the country. Worldwide, the watch brand is present in over 45 countries.
China Haidian has a watch production and distribution business in China. The company already owns two of the top four watch brands in China.
The Dreyfuss Group management team, including Executive Chairman Robert Dreyfuss, will remain with the business following the acquisition.
He said: “This is excellent news for the future of the Dreyfuss Group. The management team is excited at the opportunities to continue to aggressively pursue our plans for further national and international expansion supported by the resources and sizeable distribution network of China Haidian Holdings Limited. In tandem with the Chelsea FC sponsorship, it will elevate Rotary into a global brand leader, whilst preserving and respecting our unique Swiss heritage, our family values and our existing long-term customer relationships.
“This transaction marks the beginning of an exciting new chapter in the group’s long history. Our new owners recognise, respect and share the same family values that have underpinned our success to date and together we will ensure that my great-grandfather’s legacy lives on.”
