Connect with us

Headlines

Warren Buffett’s Jewelry Concern Scoops Up Another Company

mm

Published

on

Precious metals supplier Nordt follows Gemvara as latest acquisition.

Richline Group, a jewelry supplier subsidiary of Warren Buffett’s Berkshire Hathaway Group, has acquired John C. Nordt Inc., a supplier of precious metals. The acquisition comes after Richline recently acquired online jewelry retailer Gemvara.

In a release announcing the deal, Joe Esposito, Richline’s EVP of manufacturing said that "Nordt is another important and strategic addition to our brands. The firm’s unique and successful business model is a tribute to the leadership of the Nordt family. … Nordt has a great product line, talented people and long term relationships with its clients.”

Five generations of the Nordt family have led the firm for more than 140 years. Paul Nordt III, Rob Nordt, Sr. and Rob Nordt, Jr. will continue to lead the company along with an experienced professional management team, the release says.

Read more at Business Wire

Advertisement

Advertisement

SPONSORED VIDEO

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

Promoted Headlines

Most Popular