A company which specialises in premium pre-owned watches, and specialist repairs, has been acquired by a Swiss luxury goods group.

The deal, for an undisclosed amount, will see 100% of the share capital of Maidstone-based Watchfinder.co.uk taken over by Richemont.

Established in 2002, Watchfinder has become one of the county's fastest growing businesses, with a service centre in Albion Place and a showroom in Pudding Lane.

In addition, it has a host of stores including Bluewater, five outlets in London, including two in Mayfair as well as Birmingham and Leeds - in addition to its online offering.

It employs around 200 people.

Johann Rupert, chairman of Richemont, said: “Sixteen years ago, Watchfinder’s founders foresaw the need for an online marketplace for premium pre-owned timepieces.

"Watch enthusiasts themselves, they established Watchfinder to provide excellence in customer experience. We believe there are substantial opportunities to help grow the company further.

"Today, Watchfinder operates both as an ‘online’ and ‘offline’ business in a complementary, growing, and still relatively unstructured segment of the industry.

"It will enable us to better serve the sophisticated needs of a discerning clientele."

The deal is expected to be completed by the end of the summer.

Richemont owns an impressive portfolio which includes jewellers Cartier, Van Cleef & Arpels and Giampiero Bodino, specialist watchmakers such as A Lange & Sohne, Baume & Mercier and Jaeger-LeCoultre.