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BRIEF-‍Birks entered into a 5 year distribution agreement with Aurum to sell Birks Fine Jewelry in U.K.
August 11, 2017 / 1:26 PM / a month ago

BRIEF-‍Birks entered into a 5 year distribution agreement with Aurum to sell Birks Fine Jewelry in U.K.

Aug 11 (Reuters) - Birks Group Inc

* Birks Group achieves another step in its strategic plan focused on growing the Birks Brand and its Canadian retail operations by entering into an agreement to sell Mayor’s Jewelers to a respected strategic partner

* Birks Group Inc - ‍Deal valued at approximately $104.6 million​

* Birks Group Inc - ‍Birks entered into a 5 year distribution agreement with Aurum to sell Birks Fine Jewelry in U.K. at Mappin & Webb, Goldsmiths stores​

* Birks Group - ‍Proceeds from deal will be used by Birks to continue strategic growth initiatives, specifically to invest in canadian flagship stores​

* Birks Group Inc - ‍Transaction proceeds will also be used to pay down outstanding debt under company’s senior secured credit facilities​

* Birks -‍ Entered into 5 year distribution agreement with Aurum to sell Birks Fine Jewelry in U.K. at Mappin & Webb, Goldsmiths stores, on their e-commerce sites‍​ Source text for Eikon: Further company coverage:

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