Takeover of Fraser Hart sees Fields enter British market

FIELDS, the Dublin-based jewellers, is expanding into the British market with the takeover of the 31-store Fraser Hart Group.

The price paid by Fields was undisclosed, but is it likely to cost the Irish firm at least €60 million based on the profitability of the company. According to documents filed at Companies House in London, Fraser Hart made a profit of €7.5m in the year to end March 2007.

Fraser Hart has 31 stores across Britain and employs nearly 500 people. The company sells upmarket brands including Rolex, Cartier, Bulgari and Tag Heuer.