Gemfields announces its proposed acquisition of
Gemfields, the leading gemstone mining and marketing company, announces its proposed acquisition (the “Proposed Acquisition”) of a 100% interest in Fabergé Limited (“Fabergé”) with a view to creating a globally recognised coloured gemstone champion. Fabergé will provide Gemfields with direct control over a high-end luxury goods platform and a global brand with an exceptional heritage.
Proposed Acquisition highlights:
• Positions Gemfields as a UK based leading coloured gemstone miner and a global iconic luxury brand with an exceptional heritage operating in the two most profitable segments within the gemstone supply chain
• Proposed Acquisition further advances Gemfields’ “Mine and Market” strategy creating a coloured gemstone champion
• Positions Fabergé as the coloured gemstone retailer of choice, within the hard luxury retail sector; a sector with an estimated turnover of US$54 billion in 2011 according to the Bain Luxury Market Study
• Consolidates Gemfields’ brand as “The Coloured Gemstone Company”, creating a platform to further increase the Company’s market share within the coloured gemstone sector, while gaining exposure to luxury sector multiples and greater influence over product positioning and consumer awareness
• The Enlarged Group, listed on AIM and managed from London, will have approximately 1,150 employees across the United Kingdom, United States, Switzerland, Zambia, Mozambique, India and China providing expertise in coloured gemstones via a global platform poised for additional growth and expansion at both ends of the supply chain.