Aurum Group has acquired 100 per cent of the share capital of Preston-based The WATCH Lab, the watch repair specialist operating from a network of prime shopping centre locations across the UK.
Aurum – owners of Watches of Switzerland, Mappin & Webb, Goldsmiths, and the recently acquired Watch Shop and The Watch Hut brands – bought the company from brothers Jonathan & Jeremy Barker, who will retain their current roles in the business.
Brian Duffy, chief executive officer of Aurum Group said: “We are thrilled to acquire The WATCH Lab, a fantastic business and a market leader in this dynamic area. We believe this is a perfect addition to Aurum’s growing portfolio of outstanding retail brands. It’s been a pleasure to work with Jonathan & Jeremy in this process & we at Aurum look forward to working with them as colleagues.”
Jonathan Barker added on the agreement saying: “We believe Aurum to be the ideal acquirer for The WATCH Lab. ‘The strength of Aurum and the synergy between the businesses will further enable The WATCH Lab to continue to grow into the household name we always envisaged’.
Jeremy Barker added: “We are extremely proud to sell our business to such a prestigious company and believe this acquisition further demonstrates the future potential of The WATCH Lab”