CVC Capital Partners / Retail Network has sold all of the outstanding shares in the Dutch jewellery chain Siebel BV to NoorderHuys Participaties and the management.
Lindenaar & Co advised CVC Capital Partners / Retail Network in the entire process, ranging from determining and contacting the most likely private equity firms until the deal execution, including the composition of an LoI, company valuation, deal negotiations, due diligence preparations and closing of the transaction.
Profile Siebel
Siebel BV is the largest Dutch jewelry chain in the high-end of the mass market, offering its products through 42 stores nationwide. The company offers watches and a diverse range of jewelry items of both third party brands and a number of private labels such as Isare, Shape and Merii. Siebel has recently introduced a "Celebrate Life" store concept focusing on more open, inviting stores with a fashionable collection and offering a more emotional shopping experience. After a long period of ownership by Vendex, Siebel was sold to CVC Capital Partners in 2002, as part of the so called “Sixpack” transaction that also included retail chains Hans Anders, Scapino, Lucardie, Prenatal, Perry Sport and Kijkshop. The head office of Siebel is located in The Hague. The company has around 300 employees and realized net sales of €30 million in 2007.