The Swatch Group has bought 100% of the shares in family-owned watch case maker Simon et Membrez in a move that it has described as “a seamless fit”. The shares were previously owned by Simon et Membrez CEO Philippe Membrez, Etienne Membrez and Didier Membrez.
Simon et Membrez SA was created in 1975 in Delémont, Switzerland, by René Simon and Etienne Membrez, the father of the current CEO. The new plant was inaugurated in the summer of 2008 and expanded to its current size in 2011. The company will continue to trade under the Simon Et Membrez name and continue to supply third parties outside the group.
The Swatch Group has had an ongoing relationship with the family company, which employs 250 people and supplies cases for some of the group’s brands, including Breguet and Blancpain.
In addition, the Swatch Group has also bought a 60% stake in case polishing business Termiboîtes. Based in Courtemaîche, Switzerland, it has fifty employees and is a subsidiary of Simon et Membrez.