Guernsey based Witney Price Group Holdings Limited is diversifying its business with the purchase of Swiss based Adjure Global (Suisse) SA.
Witney Price owner, Alan Witney-Price yesterday said he was “delighted to be able to publicly confirm the purchase”.
Mr Witney-Price said the acquisition is part of his expansion plans.
“Diversification, away from the Channel Islands, continues to be the primary focus at this time. The addition of the Swiss Trust Operations of Adjure Global to the structure of the Group at this time will re-inforce our pan-European objectives.”
Witney Price is an investment firm with ventures across the globe, including locally such as Sark Electricity Ltd.
Mr Witney-Price said his latest acquisition is part of his wider business ambitions.
“The addition of the Trust Company at this time is part of a broader move to provide financial services to a highly select client base. The trust acquisition does not impact on our cradle to grave manufacturing ambitions in Southern Ireland or our ambitious agricultural development projects in Kenya.
“I have acquired controlling ownership at 96% of the share capital and the Swiss business will operate outside of the broader group under a separate Board of Directors to ensure arms length management of clients interests.”
Mr Witney-Price said he would not comment on the purchase price of Adjure Global (Suisse) SA.
“I am afraid that the consideration is a confidential matter between the parties.”