Top equity firm CVC Capital Partners has agreed to buy Breitling, the Swiss watchmaker known for aviation-themed timepieces worn by actor John Travolta, in a deal said to be valued at more than 800 million euros ($870 million), said a report.

The transaction is expected to close in June, subject to approval by competition authorities, reported Bloomberg, citing a CVC statement.

Theodore Schneider, Breitling’s current majority owner, will reinvest in exchange for a 20 per cent stake, it stated.

Breitling is one of the larger Swiss watch brands that’s still independent while most others have been acquired by competitors, such as Swatch Group AG, Richemont, LVMH and Kering SA. The watchmaker had hired advisers from GCA Altium to find a buyer, said the report.

Swiss watch exports rose for the first time in 21 months in March, ending their longest slump on record as shipments to Hong Kong pulled out of a two-year decline, the Federation of the Swiss Watch Industry said Thursday.

Withering demand had led brands such as Vacheron Constantin and Cartier to cut jobs.

CVC will likely focus on stoking demand for Breitling’s watches in the Chinese market, one of the people said, asking not to be identified because the plans are private. The company reported 2016 sales of 420 million Swiss francs ($424 million), reported Bloomberg.

Breitling’s watches start at about 2,500 francs and celebrity endorsers have included Travolta, Russell Crowe and David Beckham.