Richline Group Acquires Rio Grande

Fine jewelry manufacturer and marketer, Richline Group, Inc., said Friday that it has acquired Rio Grande, effective Jan. 1, 2013.

Rio Grande, an Albuquerque, N.M.-based company founded in 1944 by Saul Bell, is an international distributor of jewelry making equipment, jewelry packaging and displays, and other jewelry related products for jewelry designers, manufacturers and retailers. It remained family owned and operated under the Bell Group, Inc. Meanwhile, Richline Group, a wholly-owned subsidiary of Warren Buffet's Berkshire Hathaway Inc., is a multi-national holdings company of jewelry manufacturers and distributors. 

Under the new corporate structure, Alan Bell and Molly Bell will remain to run the company as president and executive VP, respectively, Richline said in a statement. Eddie Bell will continue to oversee the Santa Fe Symposium and Neutec. The Santa Fe Symposium is an annual gathering of jewelry industry professionals involved in cutting-edge technology in jewelry making who share their insights with in-depth papers. Neutec, also included in the acquisition, is a manufacturer of lost-wax jewelry casting equipment (grain-making and casting machines), laser-welding machines, as well as the accessories and supplies that support them.

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Richline Group to Buy Fifth Italian Jewelry Brand

Warren Buffett seems to be attracted to Italian jewelry companies. ©AP Photo/ Kathy Willens

Jewelry company Richline International, will buy Italian jewelry brand, Carniani, Reuters reports.

The acquisition includes the production, design, intellectual property and distribution rights of the Italian jewelry brand.

Richline International is based in Arezzo, Italy, an area known for gold jewelry manufacturing and design. It is fully owned by Berkshire Hathaway's Richline Group, a global jewelry manufacturer. This will be the company's fifth jewelry brand acquisition as the it plans to expand further in Italy. In May, the company announced the acquisition of 7Ar, Erz and Farinex jewelry brands. Berkshire Hathaway is led by billionaire investor Warren Buffett.

The Richline Group was formed in 2007 and includes a diverse group of jewelry brands specializing in metals, gemstones and design. They include Andin, Aurafin, AuraGem, Bel-Oro, Michael Anthony and Tru-Kay.

Richline Group Acquires Three Italian Brands

The Richline Group jewelry company has bought three privately held Italian jewelry brands for undisclosed amounts, Reuters reports.

Richline, headquartered in Mount Vernon, N.Y., and Tamarac, Fla., bought the rights to children’s jewelry maker Erz, earrings and bracelets maker Farinex and 7AR, a part of the Rosato jewelry group, based in Arezzo and Milan, Italy, according to the report.

“This is another important and strategic addition to our expansion into the international arena,” Dennis Ulrich, chief executive officer of Richline Group, reportedly said in a statement.

Richline Group announced in January it would buy privately owned Italian jewelry manufacturer Rosato, known for its gold and enamel charms. Instead, Richline opted to buy the 7AR brand, a branch of Rosato, Reuters reports.

Richline Group, a wholly-owned subsidiary of Berkshire Hathaway Inc., was formed in 2007 and includes such brands as Andin, Alarama, Aurafin, Auragem and Bel-Oro.

Richline Group to Acquire Rosato

Simona Rosato

The Richline Group will be adding another brand to its portfolio as the company announced Monday that it is acquiring acquiring Italian jewelry brand and Rosato Srl. The two companies signed an agreement that will allow the acquisition to take place by the end of February.

Rosato, based in Arezzo and Milan, Italy, was founded by Simona Rosato in 1994 with the idea of turning fine gold and silver jewelry into a more trend-driven accessory. The company also owns the jewelry brands 7AR and Calgaro.

Richline Group is a wholly-owned subsidiary of Berkshire Hathaway. It is a jewelry manufacturer and the largest importer of gold jeweler. The company, founded in 1997, owns several brands, including Andin, Bel-Oro and Michael Anthony.

“Rosato is another important and strategic addition to our brands. It is our first real expansion into the international arena for acquisitions and we have found a gem,” said Dennis Ulrich, Richline Group CEO. Rosato has a great product line, talented people and long term relationships with its clients.”

Simona Rosato added: “This is a great opportunity for my brand to grow and expand globally. I am sure we will be able to let the real Italian jewelry design be known and appreciated.”