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Bijoux Terner in $90m takeoverBijoux Terner in $90m takeover
Gavin Lipsith
3-Mar-2006
The rapidly-expanding single price fashion and accessories company is the latest travel-retail firm to catch the eye of the private equity sector
Fashion and accessories company Bijoux Terner has been acquired by private equity firm Arcapita in a $90m deal. The investment company pointed to the single-price concept's strong relationships with global travel retailers as an important consideration in the purchase.With the backing of private equity funds, Bijoux Terner will be able to take its development "to the next level", according to the company's president and CEO Moni Terner. The company already has over 370 retail locations across the world, most in travel-retail destinations, offering products for a set price of $10.
Arcapita director Stockton Croft said: "Bijoux Terner has been successful in expanding the market in a shopping environment that has traditionally focused on high-income customers. Considering the company's existing relationships with eight of the top 10 global travel-retail operators, we believe the opportunities for further growth are extensive."
Terner added: "We are very proud of the global scale we have been able to achieve and we felt this was a good time for a partnership with Arcapita. We look forward to taking our company to the next level together."
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