Asia’s companies are arguably the most important players in global MA at the moment. Citizen Watch’s acquisition of Prothor Holdings captures the trend explicitly a cash-rich Japanese company buying a high-end European set of brands and technology to improve its sales into emerging Asia, especially China.
The 5.76 billion $72 million deal values Prothor, the Swiss maker of La Joux Perret, Prototec and Arnold Son, at just over two times 2011 sales of Sfr31.5 million $34 million. The punchy valuation reflects the deal's merits. The Swiss watch industry is in a state of ferment at the moment due to the decision of Swatch the leading and largest horologist...
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