Headlines

Warren Buffett’s Jewelry Concern Scoops Up Another Company

Published

7 years ago

May 24, 2016

INSTORE Staff

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.

Wilkerson Testimonials

Wilkerson: “They Feel Like Family”

Newton’s Jewelers in Fort Smith, Ark., was a true institution. But after being at the helm for most of his life, owner (and descendent of the original founder) Kelly Newton decided it was time to retire. He chose Wilkerson to handle the sale. “I’ve known the owners of Wilkerson for a long, long time. I felt at home with them,” he says. The final retirement sale was just a “blast” and the Wilkerson sales team made it so very simple and straightforward, says Newton. Would he recommend Wilkerson to others? Absolutely. “They’ve done incredible work,” says Newton. “They feel like family.”