Swatch Group has snapped up family-owned watch case maker Simon Et Membrez in a move that it has described as “a seamless fit”.
The watch group has bought 100% of the shares, which were previously owned by Simon Et Membrez chief executive Philippe Membrez, Etienne Membrez and Didier Membrez.
Simon Et Membrez has had a relationship with Swatch Group for some time now with the case manufacturer supplying some of the groups brands, including Breguet and Blancpain.
Swatch Group has made assurances that Simon Et Membrez, which has 250 employees and will continue to trade under its existing name, will continue to supply other watch manufacturers outside its own group.
Swatch Group has also bought a 60% stake in case polishing business Termiboîtes which is based in Courtemaîche, Switzerland, and has 50 employees.