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Les Manufactures Horlogères SA was a [[watch holding company]] within the German company VDO Adolf Schindling AG from [[1991]] through [[2000]], when the group became part of [[Richemont]]. LMH was founded by [[Günter Blümlein]] based on [[IWC]] (purchased by VDO in [[1978]]), [[SAPHIR Group]] (majority owner of [[Jaeger-LeCoultre]], purchased later that year), and [[A. Lange & Söhne]] (re-started by Blümlein and [[Walter Lange]] in [[1990]]). LMH was the subject of a bidding war in [[1999]] when Vodafone acquired VDO in the largest corporate takeover in history, with [[PPR]] and [[LVMH]] leading the bidding before [[Richemont]] purchased40% of Jaeger-LeCoultre from [[Audemars Piguet]] and secured the deal. | |||
==History== | |||
[[IWC]] was acquired by VDO in [[1978]], shortly before the German company acquired [[SAPHIR Group]] from the Favre family. SAPHIR owned 55% of [[Jaeger-LeCoultre]] as well as [[Favre-Leuba]]. | |||
SAPHIR was the descendent of [[SAPIC]], founded by the LeCoultre family in [[1927]] to consolidate its various businesses. [[Vacheron Constantin]] became part of SAPIC in [[1937]] but was split out in [[1965]], with the result renamed SAPHIR. The Favre family purchased SAPHIR in [[1969]], connecting Jaeger-LeCoultre with [[Favre-Leuba]]. | |||
[[Category:Richemont]] | [[Category:Richemont]] | ||
Revision as of 14:00, 22 March 2024
Les Manufactures Horlogères SA was a watch holding company within the German company VDO Adolf Schindling AG from 1991 through 2000, when the group became part of Richemont. LMH was founded by Günter Blümlein based on IWC (purchased by VDO in 1978), SAPHIR Group (majority owner of Jaeger-LeCoultre, purchased later that year), and A. Lange & Söhne (re-started by Blümlein and Walter Lange in 1990). LMH was the subject of a bidding war in 1999 when Vodafone acquired VDO in the largest corporate takeover in history, with PPR and LVMH leading the bidding before Richemont purchased40% of Jaeger-LeCoultre from Audemars Piguet and secured the deal.
History
IWC was acquired by VDO in 1978, shortly before the German company acquired SAPHIR Group from the Favre family. SAPHIR owned 55% of Jaeger-LeCoultre as well as Favre-Leuba.
SAPHIR was the descendent of SAPIC, founded by the LeCoultre family in 1927 to consolidate its various businesses. Vacheron Constantin became part of SAPIC in 1937 but was split out in 1965, with the result renamed SAPHIR. The Favre family purchased SAPHIR in 1969, connecting Jaeger-LeCoultre with Favre-Leuba.