CDC Enterprises acquires French jewels

French jeweller Marc Orian has changed hands, with CDC Enterprises completing a secondary buyout from Crédit Agricole Private Equity for a reported €140m.

French buyout firm CDC Enterprises Capital has acquired French jewellery retailer Marc Orian from rival firm Crédit Agricole Private Equity.
 
CDC Enterprises Capital declined to comment on financial terms, but an article in French daily Les Echos reported a price tag of approximately €140 million ($117 million).
 
Olivier Boyadjian, senior partner at CDC Enterprises, said in an interview that Marc Orian is the second investment from the CDC Entreprises III fund, which closed on €300 million in June 2005. Last December, the firm acquired Les Frères Blanc, a Paris-based chain of 24 restaurants for an undisclosed fee, believed to be just under €150 million.
 
Founded in 1986, Marc Orian sells jewellery and watches through a network of 256 stores primarily based in shopping centres in France. The company operates under the brands Marc Orian, Orian Prestige, Trésor, Pop Jewels and Louis Berthier and reported a turnover of €119 million in 2005.
 
“Marc Orian has a number of important assets, including its management, but a big attraction was its network, which is the largest in France with more than 255 stores,” said Boyadjian. “Despite that, we believe that there is scope to develop that network even further.”
 
According to an article in Le Figaro in January, Apax Partners is considering selling Histoire D’Or, France’s number two jewellery retailer.