Festina Buys Candino

Festina, the Spanish watch group, has bought the Candino Watch Co., a family-owned Swiss business that makes Europe's popular mid-priced Candino Swiss watch brand. The acquisition was completed Jan.16 by Miguel Rodriguez, president and owner of Festina, and Kurt Flury, head of Candino. Details of the deal weren't released. The acquisition extends and strengthens the Spanish watchmaker's activities in the Swiss watch business, notes Phil Schwetz, president of Festina USA. Candino is sold in some 50 countries, but not in North America. It is possible Festina USA will distribute Candino in the United States, but this was not confirmed at press time. Festina's other brands include Jaguar, Calypso, and Lotus. While the union merges the two companies' manufacturing and sales, their individual brand identities in the mid-price segment of the market remain unchanged. Candino was founded
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