Axa Private Equity looking for a buyer for Daum crystal

PARIS, 23 April 2009 (AFP) – A source close to the company confirmed to AFP today the news, reported in the French daily economic newspaper Les Echos, that Axa Prvate Equity is on the lookout for a buyer for the Lorraine based cystal producer Daum, which it acquired in 2000.


Volupté by Lucien Gibert for Daum (Photo: www.daum.fr)

Axa Private Equity, subsidiary of French insurance group Axa, “started a process of separation a few months ago”, stated the source.

Daum and Axa Private Equity have “carefully thought through” the decision to sell, which will allow the crystal producer to start “a new stage of its development”, added the same source.

Contacted by AFP neither Daum, nor Axa Private Equity were willing to comment. Porcelain manufacturer Haviland, the boss of which is the businessman Prosper Amouyal, could be in line to take over the business, reported Les Echos; a comment on which the aforementioned two parties were also unwilling to comment.

Mr Amoyal is also the owner of 49% of the crystal producer Lalique.

Placed in receivership in the early 2000s, Daum has stabilised its bank balance, though this came at the cost of a haemorrhage of its staff; from 700 to 200 in ten years according to Les Echos.

Daum, based in Vannes-le-Châtel (Meurthe-et-Moselle), saw a turnover of “more than €20 million” in 2007” the finance daily reported.

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