Advent-backed Douglas to Sell Jewelry Retailer to 3i
October 30, 2014
3i Group has agreed to acquire a majority stake in jewelry and watch retailer Christ, a division of Advent International-backed Douglas, for approximately €214 million ($273 million). The deal, subject to regulatory approval, reportedly values the company at €400 million ($510 million), including debt. Having operated in Germany for over 150 years, Christ has 220 retail outlets throughout the country and more than 2,400 employees. The company launched an e-commerce platform in 2010.