WWD.com/accessories-news/mergers-acquisitions/richemont-acquires-components-maker-6371860/
government-trade
government-trade

Richemont Buys Components Maker

Varin-Etampage and Varinor supplies the watch and jewelry industry.

LONDON Compagnie Financière Richemont has acquired a 100 percent stake in Varin-Etampage and Varinor (VVSA), a manufacturer of high-end, stamped exterior components for watches, a gold refiner and a producer of semi-finished precious metal products for the watch and jewelry industry.

The acquisition is Richemont’s second in less than two weeks: On Sept. 21, Richemont acquired Peter Millar LLC, a U.S.-based, international luxury apparel business.

Richemont said in a statement it had purchased VVSA in a private transaction from its group of shareholders. VVSA has long been a supplier of the Richemont brands, which include Cartier, Van Cleef & Arpels, Chloé, and Dunhill.

VVSA has been based in Delémont, Switzerland, since 1962.

The Richemont statement said the current directors of VVSA, Damien Donzé, Alain Munier and Béat Chételat, would manage the company, which will continue to serve its existing clients.