Baccarat’s Owners Are Exploring Sale of Luxury Crystal Maker

(Bloomberg) -- Baccarat’s owners are considering options for the centuries-old French luxury crystal maker, including a potential sale, after receiving takeover interest, people familiar with the matter said.

The investment firms that own Baccarat are in the early stages of studying strategic alternatives for the company with their advisers, the people said, asking not to be identified because the information is private. They have received several unsolicited approaches from potential buyers of the business, which could fetch a few hundred million dollars, according to the people.

Baccarat’s owners could kick off a formal sale process later this year, the people said. The company makes high-end tableware, barware, lighting, jewelry and accessories.

Private credit firms led by Hong Kong-based alternative asset manager Tor Investment Management took over Baccarat from investment company Fortune Fountain Capital Ltd. in 2020.

A representative for Tor declined to comment.

Founded by royal decree of King Louis XV of France almost 260 years ago, Baccarat’s exclusive products can be found in hotels, restaurants, private residences, yachts and private jets. Those include chandeliers that cost about $155,000 apiece, whiskey decanters that sell for $1,315 and champagne coolers priced at almost $6,000, according to its website.

Some of the brand’s finest works include a crystal balustrade at Istanbul’s Dolmabahce Palace, and its designs have been collected by many of the world’s royal families. Some Baccarat pieces have been exhibited at the Louvre.

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