Synalia, the leading group of independent jewelers and watchmakers in France, has entered into exclusive negotiations to acquire the DONJON Group, managed by Mr. Guy SUBRA.
Presentation of the DONJON Group
Guy SUBRA, Chairman of the DONJON Group, 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 leadership of its current CEO, Guy Subra, one of the leading jewelry brands in France, with 51 points of sale throughout the country, located primarily in leading shopping centers.
The challenges of acquisition
This acquisition project represents an opportunity for SYNALIA and its independent partners to strengthen their position in the jewelry and watchmaking market. It demonstrates the strength of the cooperative system, which allows independent retailers to leverage development levers previously reserved for branch groups. Guy SUBRA stated: "This sale is the logical culmination of a professional career dedicated to the development of an independent group, faithful to the jeweler's trade. By selling it to my colleagues at SYNALIA, 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 jeweler in Amiens, said: "This acquisition marks a turning point for our SYNALIA Cooperative, which already boasts more than 400 points of sale. Above all, we are pleased that Guy SUBRA's stores, which are a benchmark 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, restructured three years ago under the leadership of a new General Management, now wishes to grow to offer its members ever-improving purchasing conditions and quality of service to strengthen their competitiveness in the market." The conclusion of this agreement is subject to the conduct 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: Synalia website on 05.07.2016