It was acquired for $500 million.
Blue Nile Inc.’s stock has been delisted from Nasdaq, and the online diamond seller has officially become a private company.
The Seattle-based company was acquired by an investor group in a $500 million deal that closed Feb. 17. The investor group is made up of funds managed by Bain Capital Private Equity and Bow Street LLC.
“Blue Nile has disrupted and transformed the way consumers shop for and purchase diamonds and fine jewelry by creating price transparency while simultaneously providing value to suppliers,” said Harvey Kanter, Blue Nile’s chairman, CEO and president. “As we enter the next phase of growth, Blue Nile will continue to expand our vision and focus on putting the customer first by reaching them the way they prefer to shop whether it’s a computer, mobile device, or in one of our Webrooms.”
The deal was announced on Nov. 7 and approved by Blue Nile’s shareholders on Feb. 2. The stock (Nasdaq: NILE) was delisted on Feb. 21.
The Puget Sound Business Journal has quoted analyst Edahn Golan saying the deal represents “a vote of confidence in the diamond industry.” He said Bain Capital and Bow Street clearly anticipate being able to build up the company’s value.
97 Years of Family History, One Right Decision: How Malloves Jewelers Found the Right Partner to Close with Grace
Marc Levin’s grandfather Max founded Malloves Jewelers in Middletown, CT, in 1928. Nearly a century later, Marc — the third-generation owner — knew it was time to retire. He’d watched friends and fellow jewelers navigate store closings with Wilkerson’s help, and their recommendations were hard to ignore. Once he connected with the Wilkerson team, the decision was clear. “They made me feel like family,” he says. Wilkerson’s team handled every detail day by day, kept Marc informed every step of the way and delivered results that met and exceeded his financial goals. Watch Marc share the story of Malloves Jewelers’ final chapter — and why he slept soundly through all of it.
