On Nov. 5, Bahrain investment company Investcorp announced it will acquire Scandinavian luxury retailer Georg Jensen for $140 million from private equity group Axcel Capital Partners.
Georg Jensen has three stores in the U.S.—in New York City, Honolulu, and Chicago. The company has 94 fully owned stores worldwide, and three franchised stores.
As part of this transaction, Nautica founder David Chu will join the company as chief creative director and co-chairman of the board. Also joining the board will be Guy Leymarie, former CEO of De Beers Diamond Jewellers, Cartier International, and Dunhill.
Founded in 1904 by a Dutch designer, Georg Jensen designs, manufactures, and distributes jewelry, watches, fine silverware, and high-end housewares. In 2011, its sales reached $160 million.
Investcorp has previously owned Tiffany & Co. and Saks Fifth Avenue.