Paul, Weiss represented Aurum Group USA, Inc., a subsidiary of Aurum Holdings Ltd., in its $108 million acquisition of Mayor’s Jewelers, Inc. from Birks Group Inc. Aurum is a UK-based watch and jewelry retailer. Mayor’s is a leading luxury watch and jewelry retailer based in Florida.
Vendôme Global Partners LLC and Eureka Capital Markets, LLC acted as financial advisors to Birks.
Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented “The completion of this transaction positions Birks on the right path for future growth. We believe it will accelerate the transformation of Birks into an international omni-channel business poised to achieve its growth objectives. Furthermore, the successful launch of the Birks jewelry brand in the U.K. on October 9th, 2017 was a significant step towards our goal of becoming a globally-renowned luxury brand. We would like to thank all our colleagues and friends at Mayors for their dedication and great work as part of the Birks Group. We wish them much success under the leadership of Aurum.”
Brian Duffy, Chief Executive of Aurum Holdings commented: “We are delighted to complete the transaction of Mayors by the Aurum Group. We now enter into a period of transition where we will be liaising closely with the Birks team and we look forward to welcoming 326 members of the Mayors team to the Aurum family. This announcement follows our announcement to open a flagship Watches of Switzerland store in Hudson Yards NYC and confirms the ambition of our group to be an important part of the Swiss watch market in the USA.”
The Paul, Weiss team included corporate partner David Lakhdhir (Picture) and counsel David Carmona; tax partner Brad Okun; real estate partner Mitchell Berg; and employee benefits partner Lawrence Witdorchic and counsel Uri Horowitz.
Involved fees earner: David Lakhdhir – Paul Weiss Rifkind Wharton & Garrison; David Carmona – Paul Weiss Rifkind Wharton & Garrison; Brad Okun – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison; Uri Horowitz – Paul Weiss Rifkind Wharton & Garrison; Mitchell Berg – Paul Weiss Rifkind Wharton & Garrison;
Law Firms: Paul Weiss Rifkind Wharton & Garrison;
Clients: Aurum Holdings Ltd.;