Holland & Knight Advises Birks Group on Sale of Mayor’s Jewelers
FORT LAUDERDALE, Fla. (October 24, 2017) – Holland & Knight represented Montreal-based Birks Group Inc. (NYSE: BGI) on the sale of Mayor’s Jewelers, Inc. to Aurum Group USA, Inc., a subsidiary of Aurum Holdings Ltd., the largest fine watch and jewelry retailer in the U.K. The transaction closed on Oct. 23.
Gross proceeds from the sale were approximately $108 million, which were used to pay down most of the Birks Group’s outstanding debt under its senior secured facilities.
As part of the agreement between Birks and Aurum, the Birks Brand collections of fine jewelry will be offered in 16 locations in the U.S. through the Mayors network as well as in 14 locations in the U.K. The 107-year old Mayor’s Jewelers is headquartered in Sunrise, Fla.
Holland & Knight Partner Tammy Knight in Fort Lauderdale led the representation of Birks Group and was assisted by Associates Nicole Maron and Daniel Janovitz.