Investcorp Acquires Luxury Retailer Georg Jensen

GDA Staff -- Gifts and Dec, 11/5/2012 12:50:07 PM

NEW YORK - Investcorp has signed an agreement to acquire the Scandinavian luxury retailer Georg Jensen for $140 million from private equity group Axcel Capital Partners.

Under the transaction, Investcorp has partnered with David Chu, a luxury brand entrepreneur and founder of Nautica, to join the company on closing as chief creative director and co-chairman of the board. Also joining the Board on closing will be Guy Leymarie, former CEO of DeBeers Diamond Jewellers, Cartier International and Dunhill.

Georg Jensen designs, manufactures and distributes jewelry, watches, fine silverware and high-end housewares with a history that spans more than 100 years. Founded by Danish designer, Georg Jensen, in 1904, today the company has 94 fully owned stores and three franchised stores across the world and approximately 1,200 employees worldwide. In 2011, the Company had sales of approximately $160 million. Georg Jensen is part of the Royal Scandinavia Group which was bought by Axcel in 2001.

"I am proud to team up with such an outstanding management team to together lead Georg Jensen forward," said Chu in a statement. "It has a world famous design heritage and a global reputation for outstanding luxury product and quality that we will take to the next level."