Synalia, France's leading group of independent jewelers and watchmakers, has entered into exclusive negotiations to acquire the DONJON Group, managed by Mr Guy SUBRA.
Presentation of the DONJON Group
Guy SUBRA, Chairman of Groupe DONJON, announces that he has entered into exclusive negotiations with SYNALIA, the leading group of independent jewelers and watchmakers, with a view to concluding an agreement for the sale of his Group. Founded in 1937 and based in Toulouse, the DONJON Group has become, under the impetus of its current CEO Guy Subra, one of France's leading jewelry brands, with 51 outlets throughout the country, located mainly in prime shopping centers.
The challenges of acquisition
This acquisition represents an opportunity for SYNALIA and its independent associates to strengthen their position in the jewelry and watchmaking market. It demonstrates the strength of the cooperative system, which enables independent retailers to implement development levers hitherto reserved for branch-based groups. Guy SUBRA commented: "This sale is the logical culmination of a professional career devoted to developing an independent group, loyal to the jewelry trade. By handing it over to my SYNALIA colleagues, I am passing the torch to professionals in the sector, to a group of independents, a major player in the HBJO market".
Virginie CONTY, President of SYNALIA and a jeweller in Amiens, declared: "This acquisition marks a turning point for our SYNALIA Cooperative, which already boasts over 400 points of sale. First and foremost, we are delighted that the Guy SUBRA stores, which set the standard in the French market for the quality of their sales service, are joining our network. It is also a sign of the new ambition of our Cooperative, which has been restructured over the last three years under the impetus of a new General Management team, and now wishes to grow in order to offer its members ever better purchasing conditions and quality of service to reinforce their competitiveness on the market." The conclusion of this agreement is subject to the completion of information and consultation procedures with employee representative bodies.
Guy SUBRA and SYNALIA hope to finalize this operation before the end of summer 2016.
Source : site Synalia le 05.07.2016
