

wsj_0505

10/31/89


WSJ891031-0006 = 891031 891031-0006.
International Brief -- Ratners Group PLC: @ British Jeweler's U.S. Unit @ Agrees to Buy Weisfield's 10/31/89 WALL STREET JOURNAL (J) RATNY WEIS TENDER OFFERS, MERGERS, ACQUISITIONS (TNM)



Ratners Group PLC's U.S. subsidiary has agreed to acquire jewelry retailer Weisfield's Inc. for $50 a share, or about $55 million.

Weisfield's shares soared on the announcement yesterday, closing up $11 to close at $50 in national over-the-counter trading.

Ratners and Weisfield's said they reached an agreement in principle for the acquisition of Weisfield's by Sterling Inc.

The companies said the acquisition is subject to a definitive agreement. They said they expect the transaction to be completed by Dec. 15.

Weisfield's, based in Seattle, Wash., currently operates 87 specialty jewelry stores in nine states. In the fiscal year ended Jan. 31, the company reported sales of $59.5 million and pretax profit of $2.9 million.

Ratners, which controls 25% of the British jewelry market, would increase the number of its U.S. stores to about 450 stores from 360. It has said it hopes to control 5% of jewelry business in the U.S. by 1992; currently it controls about 2%.


































































