Renaissance Jewellery, based in India, bought Jay Gems in a $26 million deal, Rapaport News reports.
U.S.-based Jay Gems is a supplier of Disney-themed jewelry. It has a presence across the U.S., the United Kingdom and Canada with clients such as Zale, JC Penny, Signet, H Samuel, Fred Meyer, Helzberg, Peoples, Charm, Reeds and Riddles.
The deal was completed through a subsidiary, Renaissance Jewellery New York. As a result, Renaissance’s portfolio has expanded to include Enchanted by Disney Fine Jewellery, as Jay Gems held the exclusive licensing agreement with Disney Consumer Products Inc. for the line.
The Enchanted line includes collections themed around Disney properties such as Cinderella, Snow White, Tinker Bell and Frozen.
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Rapaport notes that Jay Gems posted $79 million in revenue in its most recent fiscal year.
The website quoted Sumit Shah, vice chairman of Renaissance, saying, “With the financial strength and global distribution of RJL, we expect to be able to grow Enchanted Disney Fine Jewelry into a global brand within five years.”
Read more at Rapaport News