By  on September 5, 2008

MILAN — Italy’s Binda Group is merging with America’s Geneva Watch Group to create a $650 million-plus timepiece and jewelry firm with ambitions of becoming a key player in the global watch and accessories market.

Binda Group said Thursday it had acquired 100 percent of Kenneth Cole licensee Advance Watch Group Ltd. — known commercially as Geneva Watch Group — from U.S. private equity fund Heritage Partners for an undisclosed sum.

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