Report: Equity Firm Makes Offer for John Hardy

TSG Consumer Partners made a tentative offer this month to buy John Hardy, a Reuters report said.

The private equity firm has previously purchased 50 percent of Alexis Bittar. The company’s offer would give the jeweler an enterprise value of $100 million, the report added. 

The report, quoting sources close to the matter, said that two other equity firms, Catterton Partners and JH Partners, have also expressed interest in the company. The news agency had previously reported that Hardy’s current private equity owners were “keen to sell” it.

John Hardy could not be reached for comment at press time and has not commented on prior reports. Hardy and wife Cynthia founded the company in 1989 and sold it in 2007. 

Quoting other sources, the news agency said a deal could spur David Yurman to initiate a long-speculated-on initial public offering. It also said that jewelry brand Ippolita may be seeking new investors.

 

 

JCK News Director