It has 28 locations in 10 states.
LUCERNE, SWITZERLAND — Bucherer, a European retailer of fine watches and jewelry, has acquired Tourneau, the largest U.S. based luxury watch retailer.
Bucherer bought the company from an investor group led by Green Equity Investors IV LP, an affiliate of Leonard Green & Partners L.P.
Financial terms of the deal were not disclosed.
Established in 1900, New York-based Tourneau is the "largest luxury watch retailer in the U.S." with 28 locations across 10 states and an e-commerce website, according to a press release.
“With over a century of expertise as the preeminent purveyor of fine watches in the U.S., Tourneau provides an exciting opportunity for the Bucherer Group to establish a footprint and extend our offering of fine watches and jewelry to the United States,” said Guido Zumbühl, CEO of the Bucherer Group. “With this acquisition, we will immediately introduce the Bucherer brand to millions of potential customers in one of the most important global watch and jewelry markets. This is also a great opportunity to firmly establish the Carl F. Bucherer brand in the U.S. and introduce Bucherer Fine Jewellery into the North American market.”
Ira Melnitsky, CEO of Tourneau, said, “With the backing of one the world’s leading watch retailers, Tourneau’s customers, business partners and employees will benefit from Bucherer’s expertise, innovation, unmatched product selection and services. I am extremely proud to be joining the Bucherer ‘family’ and look forward to an exciting future with our team.”
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