French company, LVMH Moët Hennessy Louis Vuitton agreed to take over Bulgari. LVMH will exchange 16.5 million of its own shares for the 152.2 million shares in Bulgari owned by the company’s founding family. This deal will make Bulgari the second largest shareholder in LVMH.
Bulgari will now join a host of other companies behind the conglomerate including Dom Pérignon, Christian Dior, Givenchy, TAG Heuer and Sephora.
Bulgari joining LVMH will be a great recovery from the bad economic times. A lot of companies have approached LVMH to buy them out, but they have remained one of the largest and best. A lot of companies were turned down, including Coach in 2009.