Birks Group Acquires European Boutique's Watch and Jewellery Business
July 8, 2025
Birks Group Inc. completed the acquisition of the luxury watch and jewellery business of European Boutique (headquartered in Toronto) from the Sutkiewicz family for C$9,000,000, subject to customary adjustments. The deal includes a licensing agreement to operate the Canadian Diamonds Direct brand; Birks also amended debt facilities including a C$13.5 million incremental term loan from SLR Credit Solutions and a C$3.75 million loan from controlling shareholder Mangrove Holding S.A.
- Buyers
- Birks Group Inc.
- Targets
- European Boutique (watch and jewellery business)
- Sellers
- Sutkiewicz family (Eric Sutkiewicz, Lynn Sutkiewicz, Jordan Sutkiewicz, Michelle Ceresney)
- Industry
- Retail
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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