European jewellery retailer Thom Europe has acquired Stroili in Italy and is in the process of acquiring another jewellery chain in Germany.
Stroili, which has over 370 stores and sales of EUR213 million, was acquired from a shareholder consortium led by Investindustrial and L Catterton (formerly L Capital) and including 21 Investimenti, Ergon Capital, Wise and Neuberger Berman.
Thom Europe is also in the process of buying the German jewellery chain Oro Vivo from Christian Bernard, providing it with a foothold in the German market. Oro Vivo reported sales of EUR18 million in 2015 and has 38 sales outlets.
The enlarged Thom Europe group, with pro forma sales in excess of EUR620 million, will have close to 1,000 sales outlets and e-commerce sites in France, Italy, Germany and Belgium and over 5,000 employees across six brands.
Bridgepoint is Thom Europe’s majority shareholder, alongside Apax Partners and Altamir funds, Qualium Investissement and the management team.
Eric Belmonte, executive chairman of Thom Europe, says: “I am extremely proud of our teams which, led by Romain Peninque, have successfully implemented the major strategic developments enabling us today to claim the number one position in Europe and offering a particularly attractive growth outlook for the coming years.”
Romain Peninque, CEO of Thom Europe, adds: “After consolidating the French market, the group is now the natural consolidator for the entire European market. Alongside France, Italy and Germany are the largest affordable jewellery markets in Europe. Therefore, we are delighted to welcome Stroili and Oro Vivo into Thom M Europe and become the European leader.”
Maurizio Merenda, CEO of Stroili, says: “The Stroili team is delighted to join the THOM Europe Group, creating the European leader in affordable jewellery. Stroili’s presence and brand image are unique in the Italian market. Going forward, it will be able to call on the know-how and innovative tools of the Thom Europe teams, notably for the roll-out of its e- commerce offering, to accelerate its growth.”
Guillaume Teboul, CEO of Oro Vivo, says: “It is a great opportunity for Oro Vivo to join the Thom Europe group and participate in its European expansion. Our brand will be able to rely on the unique platform developed by the Thom Europe teams to optimise our product offering and roll out our ambitious growth plan in Germany.”
Frédéric Pescatori, partner responsible for Bridgepoint’s activities in France, adds: “The Histoire d’Or management team has written a new page in the company's remarkable history with the creation of a unique and highly innovative platform for jewellery retail in Europe. With the integration of Histoire d’Or, Marc Orian and Trésor into Thom Europe, the group becomes the natural market consolidator able to welcome the most attractive existing brands in Europe. With our co-shareholders, Apax Partners and Qualium Investissement, we are therefore extremely pleased to accompany the Thom Europe team in these acquisitions transforming the group into a European leader.”
