The Australia and New Zealand operations of high end consumer electronics company, Bang & Olufsen, have been acquired by Australian company, Emerald Group Investments.

Bang & Olufsen is a luxury Danish consumer electronics company that designs and manufactures audio products, television sets, and telephones.

Bang & Olufsen has nine retail stores in Australia and one in NZ.

Emerald Group operates the LK Boutique luxury watch and jewellery outlets in Sydney and Melbourne.

Law firm, Baker & McKenzie, facilitated the sale led by Sydney partner, Ben McLaughlin and senior associate, Candice Heggelund.

“Emerald Group, which has also been appointed as Bang & Olufsen’s long term master distributor, is an experienced luxury goods retailer and distributor in Australia and New Zealand,” Heggelund said in a statement.