The Swatch Group Ltd. has signed an acquisition contract concerning Swiss Precision (Pty) Ltd., of Johannesburg, South Africa, which is responsible for the distribution of watches in that country. The Swatch Group already held 10% of the company’s share capital. The company was formed in 2003 together with the Moss Family for the purpose of distributing watches produced by the Swatch Group. The acquisition will be effective upon approval by the responsible South African authorities.
