Zurich-based holding company DiethelmKellerSiberHegner, aka DKSH, has officially announced that they have sold 25% stake in Swiss watchmaking brand Bovet Fleurier SA to Pascal Raffy, according to a press release.
Pascal Raffy owns 75% of Bovet’s share capital and first purchased the majority share of the brand in 2001 for around $5 million with the goal to develop a vertical integration strategy, per a Forbes report.
According to the release, via Yahoo Finance: “On December 29, 2022, DKSH Holding AG and Mr. Pascal Raffy, owner of 75% of the share capital of Bovet Fleurier SA, have agreed on the sale of DKSH Holding AG’s 25% stake in Bovet Fleurier SA to Mr. Pascal Raffy. The transaction does not materially affect DKSH’s profit and loss statement.”
