FEBRUARY 21, 2017
THE ACQUISITION ADDS A MAJOR INDUSTRY SUPPLIER TO THE BERKSHIRE HATHAWAY OWNED FIRM.
Richline Group, a wholly-owned subsidiary of Berkshire Hathaway, and The Aaron Group, a leading jewelry manufacturer and marketer, announced today that Richline has acquired The Aaron Group business effective today, January 11th.
“We are extremely excited and energized about joining forces with The Aaron Group. The Aaron Group’s differentiated, prime-manufactured products will offer Richline’s retail partners a dramatic new range of options and increased value, while preserving the legacy of customer satisfaction that both companies prioritize,” said Dave Meleski, Richline Group’s President.
Since its founding as Samuel Aaron Jewelry in 1950, the Aaron Group has grown from its New York City roots to become a widely renowned, vertically integrated international jewelry manufacturer. Along the way, the Aaron Group has remained a true family business and, under the stewardship of third-generation leader Robert (Bobby) Kempler, has achieved stature as a major global force, with operations, factories, partnerships and hundreds of employees in New York, London, Mumbai, Hong Kong, and Guangzhou.
Richline’s CEO, Dennis Ulrich, said “this acquisition will allow The Aaron Group to continue as the leader of bridal, three-stone and fashion diamond and gemstone fine jewelry while leveraging Richline’s advanced capabilities across our entire jewelry value chain”.
Per Aaron Group President, Robert Kempler, “Richline Group support will enable The Aaron Group to grow faster, introduce new designs and collections more rapidly, and expand on our history of success by reaching a broader array of customers and markets. Our mutual goal is to anticipate, foster and drive positive change in our industry.”
ABOUT THE AARON GROUP
The Aaron Group is an international jewelry manufacturer with hundreds of employees in offices around the world. A firm believer in the power of jewelry to connect people, The Aaron Group has grown from its 1950 founding as a one-man shop to become globally recognized in the jewelry industry, with an unblemished reputation for quality, value, and commitment to the customer.
ABOUT RICHLINE GROUP, INC.
Richline Group, Inc., a wholly-owned subsidiary of Berkshire Hathaway Inc., is the USA’s foremost Fine Jewelry Manufacturer and Marketer. Currently the major brands comprising Richline’s portfolio are LeachGarner, Inverness, Rio Grande and Richline Jewelry. Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance, utilities and energy, finance, manufacturing, retailing and services.