Brief: Birks entered into a 5 year distribution agreement with Aurum to sell Birks Fine Jewelry in U.K.

Birks

11/08/2017 14:15

Aug 11 (Reuters) - Birks Group Inc  BGI.A  
    * Birks Group achieves another step in its strategic plan 
focused on growing the Birks Brand and its Canadian retail 
operations by entering into an agreement to sell Mayor's 
Jewelers to a respected strategic partner 
    * Birks Group Inc - Deal valued at approximately $104.6 
million 
    * Birks Group Inc - Birks entered into a 5 year 
distribution agreement with Aurum to sell Birks Fine Jewelry in 
U.K. at Mappin & Webb, Goldsmiths stores 
    * Birks Group - Proceeds from deal will be used by Birks to 
continue strategic growth initiatives, specifically to invest in 
canadian flagship stores 
    * Birks Group Inc - Transaction proceeds will also be used 
to pay down outstanding debt under company's senior secured 
credit facilities 
    * Birks - Entered into 5 year distribution agreement with 
Aurum to sell Birks Fine Jewelry in U.K. at Mappin & Webb, 
Goldsmiths stores, on their e-commerce sites 
 
Source text for Eikon:  ID:nBw8wL4c9a  
Further company coverage:  BGI.A  
 
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