Panorama is buying the Gullegget and Juvelen jewellery Chains
Panorama is buying the Gullegget and Juvelen jewellery Chains. Panorama is Norway’s biggest supplier of jewellery products, and also owns Gullfunn, one of Norway’s leading jewellery chains. Funds managed by Norvestor Equity AS acquired 75 % of the Panorama group in 2005.
Panorama’s turnover was NOK 230 million in 2005, and the group has 115 employees. The acquisition of Gullegget and Juvelen will increase the group’s turnover by around OK 50 million.
Gullegget and Juvelen are retail chains that operate in the county of Rogaland and eastern Norway respectively. Their shops are well established and have good locations in their geographic areas. These acquisitions are part of Panorama’s strategy of increasing its retail coverage. “The acquisitions of Gullegget and Juvelen will fit nicely into Panorama’s focus on trendy shops with a higher proportion of fashion jewellery and watches in addition to the more traditional jewellery products. The shops that we have bought are well-run, and have firstclass locations,” says Arne Lunder, the Managing Director of Panorama.
“The acquisition of the two chains will bring the number of shops that we own or franchise up to 47, making Panorama the owner of one of Norway’s largest Chains of retail outlets for jewellery products,” says Lars Grinde, a partner at Norvestor Equity AS, and the Chairman of Panorama. For further information, please contact:
Arne Lunder, Managing Director of
Panorama, +47 48 01 40 00
Lars Grinde, Partner at Norvestor Equity AS and Chairman of Panorama, +47 40 21 14 444 e-mail: email@example.com