Berkshire Hathaway Buys Out Jewelry Manufacturer
Diamond Vues, NY
I think Warren Buffet is addicted to jewelry!
Berkshire Hathaway Inc. acquired two gold jewelry manufacturers Ber-Oro International and Aurafin LLC to become the largest jewelry supplier in the United States.
The two new organizations will be combined to form the Richline Group which will continue to market the existing jewelry brands under their respective old names.
This will save costs by maintaining a single operational and administrative division, Berkshire Hathaway declared May 18, 2007.
The company, which is chaired by billionaire Warren Buffet, own Ben Bridge Jeweler, Borsheims Fine Jewelry, and Helzberg Diamonds.
“The opportunity to partner with [Bel-Oro president] Dennis Ulrich, and his entire team, was one I couldn’t pass up,†Buffet, chairman and chief executive officer of Berkshire Hathaway, said. “They have done a remarkable job in building Bel-Oro from a standing start to the leader in its industry. And the best is yet to come.â€
