Gordon Brothers, the global asset experts, provided strategic financing to Birks Group, a Canadian designer and retailer of fine jewelry, watches and gifts.
With more than a century of experience in the jewelry industry, Gordon Brothers partnered with Birks Group to deliver a tailored capital solution that will support the company’s growth strategy, providing enhanced liquidity and flexibility as the retailer builds on its strong market position and long-standing heritage. In addition to the financing package, Gordon Brothers will continue to provide strategic expertise, leveraging its retail and asset-focused capabilities as the brand’s needs evolve.
“Birks, founded in 1879, is one of Canada’s most iconic and well-established luxury brands,” Chad Simon, senior managing director, transactions at Gordon Brothers, said. “Our decades-long relationship with the company, combined with our long history in the jewelry industry, meant we could deliver unmatched liquidity and flexibility to support the company’s strategic initiatives.”
Birks Group will use the new facility to implement development strategies to generate sales growth, including investments in store renovations, omni-channel capabilities, digital commerce initiatives and working capital requirements.
“What sets Gordon Brothers apart is their unique combination of industry knowledge and capital solutions,” Marco Pasteris, vice president, business development and corporate operations at Birks Group, said. “Our long-standing relationship allowed Gordon Brothers to have a comprehensive understanding of our goals and our strategic initiatives.”
Peter Foley, director at Wells Fargo Capital Finance, added, “We value the opportunity to have partnered with Gordon Brothers on the Birks Group transaction. Their asset expertise, speed and flexibility were critical in structuring a solution that met client needs and drove a successful outcome.”
