Swiss watch manufacturer De Bethune has sold a majority stake to an investment consortium.
Terms were not be disclosed.
The consortium was led by Pierre Jacques (pictured), who headed the company from 2011 to 2015, and private equity investor Giovanni Perin. Jacques will become CEO and chairman starting Dec. 1.
Denis Flageollet, cofounder and chief operating officer, retains a share of De Bethune and will remain in his post. De Bethune’s other cofounder, David Zanetta, is stepping down and has sold his stake in the company.
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