Deals
Chinese Firm Buys 253-Year-Old French Crystal Maker Baccarat
- Investment company buys majority stake for about $184 million
- Baccarat says new shareholder to aid expansion in Asia
A glassblower shapes a stemmed glass at crystal glass maker Baccarat.
Photographer: patrick Hertzog/AFP via Getty ImagesThis article is for subscribers only.
French crystal maker Baccarat is changing hands 253 years after it was founded by royal decree of King Louis XV.
Chinese investment company Fortune Fountain Capital Ltd. is buying a controlling stake from Baccarat’s private-equity owners for about 164 million euros ($184 million), according to a statement Friday.