(PRESS RELEASE) FAIRFIELD, OH — Quality Gold Inc. announces it has agreed to acquire IBGoodman Manufacturing Co., the Newport, Kentucky-based jewelry manufacturer. Family-owned and operated since 1937, IBGoodman is known specifically for men’s jewelry and specialty product lines meticulously crafted from responsibly sourced materials. IBGoodman items are available through retail establishments worldwide. The acquisition will be completed by June 30, 2022.
When Jonathan Goodman Cohen, president and CEO of IBGoodman, was asked about selling to Quality Gold, he said, “Quality Gold is an American, family-owned, and operated jewelry manufacturing firm. Given IBGoodman’s history, these characteristics are important to me. I’ve gotten to know the Langhammers over the years. They are honorable people with capable staff and the next generation in place to build the business.” Jonathan continued, “Quality Gold has a vision for the future of its company and a clear path forward with the experience, know-how, and resources to achieve its goals. They appreciate the IBGoodman brands and I’m confident they will continue to supply our customers with the great products and service the market has come to expect from us during the last 85 years.”
When asked why Quality Gold was interested in purchasing IBGoodman, Michael Langhammer, CEO of Quality Gold, says, “I have tremendous respect for the IBGoodman name, the business Jonathan and his family have built, and his factory’s products. They have world-class American-made products and a loyal retailer base.” He went on to say, “The IBGoodman name is well recognized and stands for quality. All their strengths will be integrated and built upon – Quality Gold intends to learn from them and move the brands forward. IBGoodman products will continue to be sold under the IBGoodman brand names.”
When Jason Langhammer, COO of Quality Gold, was asked about this recent purchase, he commented, “IBGoodman has a huge collection of rings and accessories for men. This acquisition accelerates our growth potential within the men’s jewelry sector. It is a smart and strong addition for us. We are looking forward to building upon their success.”
IBGoodman’s inventory, equipment, staff, and operations are being relocated from Newport, Kentucky, to Fairfield, Ohio (about 40 minutes / 17 miles). IBGoodman and Quality Gold staff are working closely to integrate operations quickly and smoothly during this ownership transition. Staff from Quality Gold (PC-230) and IBGoodman (PC-120) will be on-site in the Plumb Club at the JCK Las Vegas show June 10-13 to answer questions.