Canadian Investment Firm Serruya Private Equity Buys Tivoli Audio

Canadian brand investment company Serruya Private Equity (SPE) bought Tivoli Audio, Tivoli said Thursday. Tivoli will be the “flagship consumer electronics brand” for SPE, which built a business in the frozen yogurt market and also held long-term licenses for brands including Betty Crocker, Chipwich, Eskimo Pie, Godiva, Tropicana and Weight Watchers, the release said. Tivoli “exemplifies the relevance of thoughtful design,” said Michael Serruya, Serruya CEO, and now chairman of Tivoli. SPE plans to build on Tivoli Audio’s “iconic global” brand in the U.S., Europe and Asia and will increase market share by “supporting the development of great new products to be sold in more locations around the globe," said Serruya. Terms weren't disclosed. SPE didn't respond immediately to questions about Tivoli management or product and distribution plans.