We acquired Panorama in 2005, recognising the business’s strong position in an underdeveloped niche of the jewellery market. We worked with them to create an expansion plan that focused on improving operations and acquisitions. Given the importance of being able to control the supply of silver used in Panorama’s products, one of these acquisitions was a leading silverware wholesaler. Panorama expanded significantly under our ownership, increasing the total number of stores from 34 to 111. We sold the company to a financial buyer in 2014.