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8April2015
LionCapitaltoacquireSpenceDiamonds
LionCapitalLLP(“LionCapital”),aconsumer‐focusedspecialistinvestmentfirm,
todayannouncedthatithasenteredintoadefinitiveagreementtoacquire
SpenceDiamonds(“Spence"),theleadingdirectsellerofcustom‐made
engagementringsinCanada.LionCapitalispartneringwithIVESTConsumer
Partners,aVancouver‐basedretailinvestorandoperator,whowillbring
seasonedoperatingexecutivesGeorgeJonesandJimSchneidertoleadthe
business.IVESTwillmakeaminorityinvestmentinSpence,aswillcurrentCEO
SeanJones,whowillalsoremainontheboard.Thetermsofthetransactionwere
notdisclosed.
Foundedin1978,SpenceDiamondscarvedoutadistinctivepositionwithinthe
retailjewelleryindustrybygivingitscustomersauniqueandpersonalised
purchasingexperienceatanexceptionalvalue.Byempoweringcustomerswith
educationondiamondsfromhighlytrainedsalesconsultantsanddelivering
qualitystonesatasuperiorvaluethroughverticalintegration,Spencehas
maintainedaleadershippositioninthecategoryforover30years.Thecompany
operatessevenshowroomsacrossCanada,eachofwhichshowcaseover2,500of
themostsoughtafterringdesigns.Spencehasgeneratedexceptionalfinancial
performanceoverthepastdecade,supportedbyfundamentalsthatareexpected
tocontinueasSpenceextendsitsgeographicreach.
EricLindberg,PartnerofLionCapitalsaid:
“Seanandhisteamhavedoneanoutstandingjobofsuccessfullyestablishingthe
Spencefranchise.Welookforwardtosupportingthecontinuedgrowthofthis
distinctiveretailer,whichwebelievedeliversauniquepropositionwithinthe
Canadianjewellerysector.Lion’sdeepexpertiseinsuccessfullydrivingtherollout
ofstrongbrandedretailconceptswillbecriticaltosupportingSpence’scontinued
growththroughthenextphaseofitsdevelopmentinnewmarkets.”
SeanJones,CEOofSpenceDiamondssaid:
"IcouldnotbemorepleasedabouthavingLionCapitalleadSpenceDiamondsinits
nextchapterofgrowth.Bybuildingourbusiness,wewillbeabletocreatemany
moreopportunitiestosupportourcustomersandteammembersinachievingtheir
dreams.IthankeverymemberoftheSpenceteamfortheirongoingcommitmentto
excellenceandthedifferencetheymakesinpeople'slives."
AboutLionCapital
LionCapitalisaconsumer‐focusedinvestorpassionateaboutinvestinginbrands
aboutwhichpeoplearepassionate.WithofficesinLondonandLosAngeles,the
firm’sprincipalshaveledtheinvestmentofover€6billioninmorethan30
businessesandmorethan100consumerbrandsacrossEuropeandNorth
America.Lion’sfocusonmarket‐leadingconsumer‐facingcompanieshasledto
investmentsinsuchwell‐knownbrandsasJimmyChoo,theluxuryshoeand
accessoriesretailer;KettleFoods,aleadingbrandofall‐naturalsnacking
productsintheUSandtheUK;AllSaints,aleadingcontemporaryfashionbrand
withaglobalstorenetwork;JohnVarvatos,anaward‐winningmen’slifestyle
brand;andPerriconeMD,apremiumanti‐ageingskincarebrand.Thefirmworks
inpartnershipwiththemanagementofitscompaniestostrategicallytransform
thebusinessesinwhichitinvests.Formoreinformation,pleasevisit
www.lioncapital.com.
UK/EUContacts
ShonaPrendergast
MHPCommunications
[email protected]
T:+44(0)2031288584
CharlotteMcMullen
MontfortCommunications
[email protected]
T:+44(0)7921881800
USContact
MatthewHiltzik
HiltzikStrategies
[email protected]
+1(212)4305054
FormoreinformationaboutIVESTConsumerPartners,pleasevisit
www.ivestconsumer.com.
FormoreinformationaboutSpenceDiamonds,pleasevisit
www.spencediamonds.com.