Richemont Group has fully acquired VVSA, a high-end manufacturer of stamped exterior components for watches, gold refiner and producer of semi-finished precious metal products for the watch and jewellery industries.
Richemont announced that it has acquired 100% of the capital of VVSA in a private transaction with the shareholder group.
The 50 year old company is based in Delémont and has been a historical partner of Richemont’s Maisons and Manufactures. Its 250 employees are expected to “reinforce the group’s industrial capabilities via their established technical know-how and state-of-the-art equipment”.
The current Directors of VVSA, Damien Donzé, Alain Munier and Béat Chételat, have confirmed that they will remain in place to manage the company, which will also continue to serve its existing clients.
Richemont said the transaction will have no material impact on its consolidated net assets and is not expected to have any impact on the group’s profitability for the year ending March 31 2013.
Richemont owns a portfolio of leading international brands including A. Lange & Söhne, Baume & Mercier, IWC, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin.