Birks Group Expands Luxury Portfolio with C$9M Acquisition of European Boutique

Birks Group has finalized its acquisition of European Boutique's luxury watch and jewelry business for C$9M, expanding its portfolio. The deal includes a licensing agreement for Birks Group to operate European Boutique's brand in Canada. The acquisition is expected to strengthen Birks Group's position in the luxury market and increase its customer base.

Birks Group Inc. has finalized its acquisition of European Boutique's luxury watch and jewelry business for C$9M, expanding its portfolio. The deal includes a licensing agreement for Birks Group to operate the European Boutique brand in Canada. The acquisition is expected to strengthen Birks Group's position in the luxury market and increase its customer base.

Birks Group, a leading designer of fine jewelry and operator of luxury jewelry, timepieces, and gifts retail stores in Canada, has completed the acquisition of European Boutique's luxury watch and jewelry business. The acquisition was announced on July 9, 2025, and the purchase price was C$9M, subject to customary adjustments [1].

European Boutique operates four stores under the European Boutique trade-name, three mono-brand boutiques in partnership with OMEGA, Breitling, and Montblanc, storefronts for brands such as TAG Heuer, GUCCI, and Diamonds Direct, and a national e-commerce website at European.ca. The acquisition includes the licensing agreement for Birks Group to operate the Canadian brand Diamonds Direct® (DiamondsDirect.ca) [1].

Jean-Christophe Bédos, President and CEO of Birks Group, commented on the acquisition, stating, "We are delighted to complete the acquisition of European. The European stores have prime locations in important malls in the Greater Toronto Area and carry high-end luxury brands which will complement Birks Group's offering. We now enter into a period of transition where we will be liaising closely with the European team and we look forward to welcoming Jordan Sutkiewicz, Michelle Ceresney and European's employees to the Birks family" [1].

The acquisition is part of Birks Group's strategic plan to expand its luxury market presence and increase its customer base. The company continues to actively engage in identifying alternative transactions to achieve its strategic goals, including raising additional funds through public or private equity, debt financing, and the completion of strategic acquisitions [1].

Birks Group operates 17 stores under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Montreal under the Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under the Graff brand, one retail location in Vancouver under the Patek Philippe brand, and three retail locations in Laval, Ottawa, and Toronto under the Breitling brand [1].

References:
[1] https://finance.yahoo.com/news/birks-group-completes-acquisition-watch-000000209.html
[2] https://finance.yahoo.com/news/birks-group-completes-acquisition-watch-000000099.html