Breitling majority stake acquired by private equity firm
Today, following widespread speculation that Breitling SA was for sale, beginning in November of last year, we now know the rumors were true and an agreement to sell an 80% majority stake in Breitling – to CVC, one of the world’s leading private equity firms – has been made. CVC Capital Partners specializes in this type of acquisition, although a cursory check of their current portfolio shows that they have no current investments that compare to this one, as the watch industry is a very particular, and is facing a very tough business climate right now. Nevertheless, Theodore Schneider, the current majority owner of Breitling will reportedly still maintain a 20% share of the company, so at least there will be some continuity. “I am convinced CVC is the right partner to elevate Breitling to the next level,” said Théodore