Buyout shop 3i said that it will acquired affordable jewelry maker Amor Group from Pamplona Capital Management. Financial terms of the deal were not released. Obertshausen, Germany-based Amor was purchased by Pamplona in 2006. The company has operations in 14 countries.
3i, an international investor focused on Private Equity, Infrastructure and
Debt Management, and funds managed by 3i are to take over Amor Group
(Amor), the leading, vertically integrated supplier of affordable jewellery
from Pamplona Capital Management (Pamplona). Both parties agreed not to
disclose the purchase price. The conclusion of the transaction which was
handled for 3i by Willkie Farr & Gallagher LLP is subject to antitrust
approval and is expected in the coming months.
Headquartered in Obertshausen, near Frankfurt/Main, Amor was founded in
1978 and acquired by Pamplona in 2006. Today Amor operates in 14 countries
and is the German market leader for jewellery in the medium-price segment
(EUR20 to EUR100). Via diverse distribution channels the company sells over
eight million pieces of jewellery annually at over 1,400 points of sale. In
addition to its own brand ‘Amor’, the company also markets its jewellery
under private labels and partners with leading retailers such as department
stores, jewellery retailers or shopping malls. Through an innovative and
over the 30-year company history continuously optimised IT and logistics
system, Amor is able to offer its retail partners a financially attractive
value proposition combined with a full service for the point of sale.
Together with 3i, Amor will continue its global expansion strategy and
strengthen its position in important international markets. 3i will also
support the management in further strengthening the Amor brand.
The company has already set strong growth impulses in the last 3 years.
Gaining new sales channels, developing a refreshed marketing strategy and
establishing the model internationally were successful initiatives of a new
management team. ‘Now it is time for accelerated growth! This concept fits
perfectly into the current retail environment worldwide’, said the CEO of
the company Marcus Hoffmann.
‘Amor is a leading retailer in the precious jewellery industry and has
experienced continuous growth over the years. We are delighted about this
investment and are convinced of the great potential the company has for
further growth. With our global network and our expertise in
internationalizing companies we will partner with the experienced
management team in driving the successful growth of Amor further,’ said
Peter Wirtz, Partner and Managing Director of 3i Deutschland.
‘In the past few years we have together with Amor transformed a
family-owned business into an important international company. We are
delighted that together with 3i Amor will in the future continue to pursue
the growth course adopted’ said Markus Noé-Nordberg, Partner at Pamplona
‘We are very much looking forward to the partnership with 3i. Our strong
business model, our many years of experience in the jewellery sector and
our international structure provide the optimum basis for further expanding
our leading position in our market segment in the future. 3i will actively
support us in the next stage of growth’, said Marcus Hoffmann, CEO of Amor.
The Willkie team was led by Mario Schmidt (Corporate/Private Equity) and
included the partners Dr. Christian Rolf (Employment Law), Rolf Hünermann
(Regulatory/Corporate Commercial), Dr. Stefan Joergens (Corporate/Private
Equity), Jan Wilms (Finance) and the associates Dr. Cornelia Ernst
(Corporate) Ingo Bednarz (Corporate/Private Equity), Dr. Roman Kasten
(Corporate), Tobias Daubert (Finance), Jennifer Diedrichsen (Corporate
Commercial), Tobias Dietrich (Regulatory/Corporate), Jochen Riechwald
(Employment Law), Dr. Matthias Werner (Corporate/Private Equity).
Willkie Farr & Gallagher LLP is an international law firm, comprising more
than 600 attorneys with offices in New York, Washington, Paris, London,
Milan, Rome Frankfurt and Brussels. The headquarters are in New York, 787
Seventh Avenue, Tel.: 001 212 728 8000.