Citizen Acquires Bulova Corporation

Jan 11, 2008
Citizen Watch Co. , Ltd., has recently announced it has acquired global timekeeping company, Bulova Corporation for 250 million dollars.

Bulova is headquartered in New York, holding offices in Canada, Mexico, Switzerland and the Far East. It was previously Loews Corporation's subsidiary and now it is set to operate as an independent subsidiary.

With a set goal to become a multi-brand company, Citizen wants Bulova to operate as a separate unit, maintaining its offices and operational structure around the world.

Bulova will also maintain its relationships with established vendors, contributing to the success of the brand. It will uphold its design distinction. Citizen, in its turn, with its great experience in the area of research and development, will support the development of the technologies, unique to Bulova.

Citizen wants to maintain and improve Bulova's international expansion strategy, sharing its operational expertise when necessary.

Bulova's current company executives, Dennis W. Perry as President and Carl E. Rosen as Chief Operating Officer, will continue to manage the company.

Mr. Perry, having worked at Bulova since 2002, was previously Chief Strategic Officer, responsible for Sales, Marketing and Merchandising. Mr. Rosen, having partnered with Loews and Bulova since 1980, has most recently been the brand's Senior Vice President for Worldwide Operations.

The Bulova Corporation, established in 1875, offers every type of standard consumer timepiece, from wristwatches to the largest home clocks. Its products - Bulova, Accutron, Caravelle, Wittnauer watches and award-winning Bulova Clocks, enjoy high demand worldwide.

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posted by: / Jan 11, 2008

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