Reuters report that Bali-inspired international jeweler John Hardy has been acquired by a U.S. private equity firm Catterton Partners.
John Hardy was established in Indonesia by Mr. Hardy who first came to Bali in 1975. He later sold the company in 2007 to senior members the Company’s management team.
The John Hardy Brand is administered from corporate headquarters in Hong Kong with jewelry designed and manufactured by hundreds of skilled craftspeople based at a Bali production facility and exported to the world.
As part od the transaction Catterton has acquired a 22.4% share of the Company held by 3i – a British private equity firm.
While the amount paid for the share in John Hardy was not disclosed, the company has been valued at between US$100-120 million.
Damien Dernoncourt who has served as CEO of John Hardy and was the controlling stakeholder will retain a stake in the company and serve as non-executive chairman.
The new CEO of John Hardy is Robert Hanson who was once CEO of American Eagle Outfitters and a former global president of Levi's.
John Hardy Sells World-Famous Bali Jewelry Brand
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