Confirmed Control (100%) Announced Transaction verified Consumer jewelry luxury jewelry and specialty retail retail

Tiffany & Co. acquired by LVMH Moët Hennessy Louis Vuitton SE

LVMH Moët Hennessy Louis Vuitton SE agreed to acquire Tiffany & Co., a US luxury jewelry and specialty retail brand, on Nov 25, 2019.

Transaction summary

Target: Tiffany & Co.
Acquirer: LVMH Moët Hennessy Louis Vuitton SE
Seller: -
Announced: 2019-11-25
Geography: United States
Tags: Consumer jewelry luxury jewelry and specialty retail retail
Type: Acquisition
Deal type: Control
Stake acquired: 100%
First added: 2026-10-04
Latest update: 2026-10-18

Value and multiples

100% enterprise value

USD 16B

100% enterprise value | USD

Basis: Estimated

Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.

EV / revenue

3.65x

Period: Year Ended 31 January 2019

Basis: Derived from source data

EV / EBITDA

16.8x

EBITDA basis not stated

Basis: Derived from source data

Amounts paid and other reported values

Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.

Consideration: USD 16B

Issuer release reports $135 per share in cash and approximately $16.2 billion equity value.

Basis

The original US$16.2bn announced valuation / US$4.4421bn revenue for the year ended January 2019 gives 3.65x. An October 2019 comparables table estimates US$967m EBITDA, giving 16.75x; its earnings period and definition are unspecified. The later amended purchase terms remain separate.

Other reviewed estimates

Earlier estimates and their sources.

Tiffany & Co. Form 10-K for fiscal year ended January 31, 2019

Revenue USD 4.4bn | EBITDA USD 967m

Open evidence

Source summary

LVMH Reaches Agreement with Tiffany & Co.

Confirmed

LVMH will acquire Tiffany for $135 per share in cash, in a transaction with an equity value of approximately €14.7 billion or $16.2 billion.

Open source

Tiffany & Co. Form 10-K for fiscal year ended January 31, 2019

Confirmed

Net sales $ 4,442.1 $ 4,169.8 $ 4,001.8

Open source

EX-99.1

Confirmed

Paris and New York, November 25, 2019 – LVMH Moët Hennessy Louis Vuitton SE

Open source

EX-99.1

Confirmed

for $135 per share in cash, in a transaction with an equity value of approximately €14.7 billion or

Open source

EX-99.1

Confirmed

The transaction is expected to close in the middle of 2020

Open source

Document

Confirmed

Years Ended January 31, (in millions, except per share amounts) 2019 2018 2017 Net sales $ 4,442.1

Open source

Tiffany & Co. Financial Overview 2019 — acquisition valuation exhibits

Confirmed

Tiffany & Co. 4,385 967 738 561

Open source

Tiffany & Co. Financial Overview 2019 | PDF | Business Economics | Corporations

Confirmed

Data sources: FactSet and author estimates.

Open source

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Tiffany & Co. acquired by LVMH Moët Hennessy Louis Vuitton SE

Transaction summary

Value and multiples

Amounts paid and other reported values

Basis

Other reviewed estimates

Source summary

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