Canadian jewellery retailer Birks Group has announced a new financing agreement with SLR Credit Solutions, one of its existing senior lenders, for an additional term loan of $13.5 million. In parallel, Mangrove Holding S.A., a principal shareholder of the company, has committed $3.75 million in fresh subordinated debt financing.

The company intends to use the new capital to help fund the acquisition of jewellery retail locations in a Canadian province where it already has a presence. A portion of the funds will also be allocated to support general working capital requirements.

Although the acquisition and associated funding arrangements are not yet finalised, Birks stated that these initiatives reflect its broader efforts to expand its retail footprint and bolster its financial foundation.

Founded in 1879, the company maintains a network of 18 Maison Birks boutiques across Canada’s major urban centres. In addition, it operates a standalone Birks store in Montreal, alongside a TimeVallée boutique in the same city. Calgary is home to a location branded as Brinkhaus, while Vancouver hosts two distinct luxury storefronts—one representing Graff and another dedicated to Patek Philippe. The retailer also manages three Breitling boutiques located in Laval, Ottawa, and Toronto.

“Birks continues to be actively engaged in identifying alternative transactions to continue pursuing its strategic goals, including raising additional funds through public or private equity, debt financing, and the completion of strategic acquisitions or divestitures,” the company said in a statement.