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Tuesday, June 7, 2011

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.

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