CVC acquires remaining 20% of Breitling
CVC Capital Partners has acquired the remaining 20% of Swiss watchmaker Breitling from Théodore Schneider. CVC acquired an 80% stake in the business from the Schneider family last year, at a valuation reported to be in the region of €800m. Company director Théodore Schneider reinvested for a 20% stake at the time. The company was founded in 1884 by Léon Breitling who played a key role in the development of the chronograph in a wrist watch. The company has two manufacturing facilities in Grenchen and La Chaux-de-Fonds, and employs approximately 900 people.