Signet Jewelers Completes Acquisition of Zale CorpJune 01, 14
(IDEX Online News) – Signet Jewelers Limited has completed the previously announced acquisition of Zale Corporation for a total of approximately $1.46 billion.
Signet will pay Zale shareholders $21 per share, and take on about $500 million of debt.
Signet Jewelers is the largest specialty jewelry retailer in the US and UK. Signet's US division operates over 1,400 stores in all 50 states primarily under the name brands of Kay Jewelers and Jared The Galleria Of Jewelry. Signet's UK division operates approximately 500 stores primarily under the name brands of H.Samuel and Ernest Jones.
Zale Corp operates approximately 1,680 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale’s brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.