Friday, August 25, 2017

Signet Jewelers buys online retailer for $328 million

Fairlawn-based Signet Jewelers (NYSE: SIG) has a new jewel for its business portfolio.

The company announced on Thursday morning, Aug. 24, that it has agreed to buy R2Net, owner of online jewelry retailer, for $328 million.

Signet said the deal is expected to close in the third quarter of fiscal 2018, subject to customary closing conditions and regulatory approval. It will be financed with a term loan provided by JPMorgan Chase that is expected to be repaid in full by the end of fiscal 2018.. . . more

No comments: