PRIVATE equity investor 3i has added new sparkle to its European portfolio after buying German jewellery supplier Amor yesterday.
Amor, which sells more than eight million pieces of affordable jewellery each year, has been sold by Pamplona Capital Management for an undisclosed amount.
Pamplona acquired Amor in 2006 and has grown it into a significant international business. 3i intends to strengthen this presence and expand it into further overseas markets.
Peter Wirtz, managing director of 3i Deutschland, said Amor had experienced continuous growth over several years and 3i was “convinced of the great potential the company has for further growth.”
“We are delighted about this investment,” he said.
Family-owned Amor is Germany’s largest wholesale and in-store jewellery retailer and sources, distributes and supplies jewellery to retail outlets.