Business
BIRKS GROUP COMPLETES THE ACQUISITION OF THE WATCH AND JEWELLERY BUSINESS OF EUROPEAN BOUTIQUE AND RELATED DEBT FINANCING AMENDMENTS
Birks Group Inc. (the "Company", "Birks Group" or "we") (NYSE American LLC: BGI) is pleased to announce that, further to its June 9, 2025 announcement, it has completed the acquisition (the "Acquisition") of the luxury watch and jewellery business of European Boutique ("European") from its founders, the Sutkiewicz family, for a purchase price of $9,000,000, subject to customary adjustments.
About this update from Birks Group Inc.
[{"type":"text","content":"All figures presented herein are in Canadian dollars.","length":53,"tagName":"p"},{"type":"text","content":"MONTREAL, July 8, 2025 /CNW/ - Birks Group Inc. (the "Company", "Birks Group" or "we") (NYSE American LLC: BGI) is pleased to announce that, further to its June 9, 2025 announcement, it has completed the acquisition (the "Acquisition") of the luxury watch and jewellery business of European Boutique ("European") from its founders, the Sutkiewicz family, for a purchase price of $9,000,000, subject to customary adjustments.","length":474,"tagName":"p"},{"type":"image","alt":"Birks Group Inc. Logo (CNW Group/Birks Group Inc.)","displaySize":"","headline":null,"caption":"Birks Group Inc. Logo (CNW Group/Birks Group Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":392,"url":"https://media.zenfs.com/en/cnwgroup.com/5265cd036ef534420174fed09450e493"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/IL8TGzfP4mbkrcoafzqxpw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTY5MTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/5265cd036ef534420174fed09450e493","width":400,"height":392}},"href":"https://mma.prnewswire.com/media/2726829/Birks_Group_Inc__BIRKS_GROUP_COMPLETES_THE_ACQUISITION_OF_THE_WA.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Headquartered in Toronto, European operates stores at the Yorkdale, Square One, Toronto Eaton Center and Sherway Garden malls, consisting of four European Boutique multi-brand luxury watch and jewellery stores, three mono-brand boutiques for luxury brands OMEGA, Breitling, and Montblanc, as well as integrated storefronts for luxury brands such as TAG Heuer, GUCCI, and Diamonds Direct. In addition to its brick-and-mortar stores, European operates a national e-commerce website at European.ca which offers a wide selection of watches and jewellery across Canada. As a part of the Acquisition, Birks Group has also entered into a licensing agreement to operate the Canadian brand Diamonds Direct® (DiamondsDirect.ca).","length":718,"tagName":"p"},{"type":"text","content":"Jean-Christophe Bédos, President and CEO of Birks Group, commented: "We are delighted to complete the acquisition of European. The European stores have prime locations in important malls in the Greater Toronto Area and carry hi...