Mergers And Acquisitions Advisory
Quality Gold Acquires Star Ring
The deal will help Quality Gold grow in bridal.
FAIRFIELD, OH — Quality Gold announced that it has purchased Star Ring Inc., a Chatsworth, CA-based supplier known for bridal and special occasion diamond and gemstone jewelry for women and men. Along with Star Ring, Quality Gold now owns Romance Ring, a division of Star Ring specializing in bridal sets, trios, semi-mounts and diamond wedding bands.
Financial terms of the deal were not disclosed.
Jason Langhammer, chief operating officer of Quality Gold, said, “This acquisition is an important one for Quality Gold. It continues to accelerate our growth potential within the bridal and engagement sector.”
The deal closely follows Quality Gold's purchase of Luxury Giftware by Jere LLC, which was announced earlier this month.
Quality Gold will operate Star Ring and Romance Ring as brands presented by Quality Gold. All merchandise will begin invoicing and shipping from Quality Gold in Fairfield after June 12.
Star Ring partners Ken Harrison, Richard Harrison and Mitchell Reiffen will join Quality Gold in sales and product development.
"They will assist the transition team that leads the company in the expansion and introduction of designs for Star and Romance Ring in the coming year," according to a press release.
In addition, some of the existing staff will also be asked to join Quality Gold to assist with customer care, account management and program fulfillment "as plans are in place with retailers in the marketplace and their knowledge is valuable in assisting in the transition," Quality Gold stated.
Michael Langhammer, CEO of Quality Gold, said, “I have tremendous respect for the business Ken has built and the product his factory makes. They have a loyal retailer base that utilizes their styles. Quality Gold will continue where Star Ring left off. All strengths possessed will be integrated and then built upon. This acquisition complements us well and is in line with the long-term strategic plan for Quality Gold.”
Ken Harrison, president Star Ring, said, “Quality Gold will give us the resources to expand our product categories. Star Ring customers will continue to have high turning SKUs along with a constant flow of new product. Delivery and service will improve. Special order capabilities will improve. Michael and Jason are hands-on and passionate about the jewelry industry. We are looking forward to working with Quality Gold to grow the Star/Romance Ring brands.”
Article by: In Store Magazine