Deals
Watchmaker Patek Philippe May Be Coming Up for Sale
- Swiss watchmaker could fetch as much as $10 billion: Berenberg
- Patek is one of of the last big independent brands around
Patek Philippe, the closely held maker of $10,000-plus Calatrava watches, may be coming up for sale, according to analysts at Berenberg who cited industry talk.
The 180-year-old Swiss watchmaker could fetch 7 billion to 9 billion euros ($8 billion to $10 billion), analysts led by Zuzanna Pusz wrote in a note. Patek Philippe has been owned by the Stern family for almost a century, and Thierry Stern became the company’s chairman in 2009.