UK jewellery giant put up for sale at $323m

By Doug Newhouse |

Shareholders in Aurom Holdings, the brand owners of Mappin & Webb, Watches of Switzerland and Goldsmiths the jewellers have put the company up for sale and are looking for around £200m ($323m) for the group which operates several shops at London Heathrow Airport.

The Watches of Switzerland brand operates in Terminals 1 and 4, while Mappin & Webb has shops in Terminals 3 and 5. In total the group reported record domestic market and travel retail sales last year of £326m ($527m) and £16m ($25.8m) in profits (+16%).

The sale is being managed by Cavendish Corporate Finance and several private equity companies and fund managing firms are said to be interested in acquiring the business.



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