Apollo Global Management, a private equity firm, plans to acquire AURUM Holdings Limited., in the U.K. It plans to facilitate this acquisition through its affiliates, reports suggest. This acquisition is planned to be completed in the early part of 2013, based on customary closing conditions, reports add.

AURUM operates companies which delve in brands including Watches of Switzerland, Mappin & Webb and Goldsmiths and Apollo Global views AURUM as a leader in the luxury watch retail segment, with a strong presence in U.K. It is looking at working to facilitate growth of AURUM’s leadership in the luxury watches and enhance its jewelry offering, reports add.

AURUM believes this acquisition will enable it to absorb the expertise of Apollo in the retail industry and its resources across the leisure and commodities sectors, for furthering its growth.