Japanese watch maker Citizen Holdings Co. said Thursday that it will buy U.S. watchmaker Bulova Corp., for about 28.8 billion yen ($247 million). Loews Corp., the New York-based holding company, has owned Bulova for almost 25 years.
The purchase will reportedly enable Citizen Watch Co., a leader in the global watch industry, to expand further in the United States, the world’s largest watch market, where it is already a leading watch brand, and to strengthen its presence in the $200 to $600 segment of the market.
The purchase will be completed Jan. 10, when Citizen buys 100 percent of Loews shares in Bulova, JCK was told.
found at jckonline.com
The purchase will reportedly enable Citizen Watch Co., a leader in the global watch industry, to expand further in the United States, the world’s largest watch market, where it is already a leading watch brand, and to strengthen its presence in the $200 to $600 segment of the market.
The purchase will be completed Jan. 10, when Citizen buys 100 percent of Loews shares in Bulova, JCK was told.
found at jckonline.com