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Warren Buffett’s Jewelry Concern Scoops Up Another Company

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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

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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