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Article: SUNGLASS HUT TO BUY RIVAL.(Watch World International)(Brief Article)
- Article from:
- WWD
- Article date:
- May 8, 2000
- Author:
CopyrightCOPYRIGHT 2000 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Sunglass Hut International, the owner of the Sunglass Hut & Watch Station, said Thursday it had reached an agreement in principle for a friendly acquisition of its major competitor, Watch World International, which operates 118 retail outlets.
The deal, which is subject to customary closing conditions, is expected to be completed in June. The purchase price will be roughly $30 million, including cash, shares of Sunglass Hut common stock and assumed debt.
John X. Watson, president and chief executive, said the transaction "further consolidates our leadership position in watches, by approximately doubling the size of our existing standalone ...
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Article: Italian Eye Wear Maker Luxottica to Acquire Florida-Based ...
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... ... executive would put a charge into Sunglass Hut's flagging sales. Under Watson, Sunglass Hut acquired the ailing Watch World International chain in May 2000. Today, Sunglass Hut operates 228 specialty watch ...
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