Pascal Raffy has acquired 100% of Bovet, a watchmaking business he has run since 2001.
Mr Raffy already held 75% of the independent watchmaker, but the remaining 25% was held by DKSH Holding AG, a market expansion specialist.
In a brief statement issued this morning, Bovet says: “DKSH Holding AG and Mr Pascal Raffy, wwner of 75% of the Share Capital of BOVET Fleurier SA, have agreed on the sale of DKSH Holding AG’s 25% stake in BOVET Fleurier SA to Mr Pascal Raffy”.
Mr Raffy, a passionate watch collector who made a fortune in the pharmaceutical industry, assembled a consortium that paid around $5 million for a majority stake in Bovet in 2001.
He bought out his partners in 2003 and set about creating a vertically integrated manufacture for Bovet, first by buying up component suppliers like a dial maker and a case producer, then by buying Château de Môtiers, a castle in Neuchâtel, in which to house the operation.
The Bovet business continues to focus on precision and artistry ahead of volume, and limits production to around 2,000 watches per year.