Birks Group has secured new funding to support the acquisition of jewellery retail locations and to strengthen its working capital position.
New Financing Arrangements
The company has arranged additional financing through SLR Credit Solutions, an existing senior lender, and Mangrove Holding S.A., a controlling shareholder. The funds will be used to support the planned acquisition of jewellery stores in a Canadian province where Birks already operates, alongside providing additional liquidity for day-to-day operations.
While the transaction remains subject to standard conditions and third-party approvals, Birks has entered into a share purchase agreement as part of the acquisition process. Further details regarding the stores or the timeline have not been disclosed.
Ongoing Strategic Activity
In its statement, Birks confirmed it remains active in pursuing strategic initiatives, including the potential for further acquisitions, divestitures, or additional fundraising through debt or equity.
“Birks continues to be actively engaged in identifying alternative transactions to continue pursuing its strategic goals,” the company noted.
Retail Footprint
Birks currently operates 18 Maison Birks stores in major Canadian cities, along with a Birks store and TimeVallée boutique in Montreal, a Brinkhaus location in Calgary, Graff and Patek Philippe boutiques in Vancouver, and Breitling boutiques in Laval, Ottawa, and Toronto.
Industry Context
This move reflects a continued trend among established jewellery businesses to grow through targeted acquisitions. For jewellers, the planned expansion highlights ongoing efforts to refine store portfolios and respond to regional market conditions within a competitive retail landscape.
