Luxury crystalware producer Baccarat finds itself at a pivotal moment as a group of international investment funds have taken over the reins of the iconic French company. Recently, the ownership landscape shifted dramatically when Tor Investment Management, Sammasan Capital, Dolphin Capital, CEOF Holdings, and Corbin Opportunity collectively acquired a 97.1% stake in Baccarat. This change in control marks a potential turning point in the future direction of the esteemed crystalware brand.
The transition in ownership was the result of a loan agreement between the investment funds and Baccarat’s majority shareholder, Fortune Legend Limited (FLL), a subsidiary of Fortune Fountain Capital (FFC) from China. In a strategic move, FLL’s shares were placed as collateral, giving the investment funds significant authority over Baccarat’s operations.
With plans for a takeover bid in the works, Baccarat may face the possibility of being delisted in the future. Following a period of uncertainty that saw the temporary administration of the company in 2020 due to FFC’s liquidation, the intentions of the new controlling investors have sparked curiosity about the future of the luxury brand.
The statement released by the financial markets authority (AMF) indicates that the new owners are committed to enhancing Baccarat’s market position. Their vision includes providing support to the management team in driving strategic initiatives focused on growth. This could potentially involve selling or restructuring parts of the company to achieve ambitious development objectives.
While Baccarat has remained silent on the recent developments, it is evident that substantial changes lie ahead for the esteemed crystalware producer. With the international investment funds at the helm, the future holds promising prospects for Baccarat as the company navigates through this transitional phase and sets its sights on continued success in the luxury market.
For more information on Baccarat and its luxury offerings, visit their official website here. To stay updated on the latest developments in the financial markets, check out the official website of the financial markets authority (AMF) here.
