Theo in private equity takeover talks

0
Have your say

A LUXURY jeweller whose customers include the Beckhams and Helen Mirren saw its share price surge yesterday after it confirmed takeover talks with a private equity firm.

Theo Fennell, which sells jewellery at prices ranging up to £250,000 or more per piece, said it was in “very preliminary” talks with EME Capital over a bid.

But the group, which sells jewellery designed by its founder, art school graduate Theo Fennell, who still owns 16.1 per cent of the company, said there was no certainty a formal offer would be made for its business.

Shares in the company, which also designed trophies for the Italian and Monaco Formula One Grand Prix events, were 30 per cent higher, giving it a market value of £3.5m.

Theo Fennell, which sells its products in jewellers across the country, reported a pre-tax loss of £1.7m in the year to March 31.