Richline announced that is has added the Inverness and LeachGarner brand names to its ever-growing stable, all part of what it calls its largest purchase to date.
The two names and a few more all come with the Berkshire Hathaway–owned company’s previously announced purchase of the U.S. precious metals division of the Cookson Material Products Group, which it officially completed May 1.
Both LeachGarner and Inverness, a manufacturer of ear-piercing systems that also sells to pharmacists and doctors, will become standalone entities under the Richline corporate umbrella.
The purchase of LeachGarner, a company that originated as Leach & Garner in 1898, also includes the acquisition of the Stern Metals group, General Findings, and chain manufacturer Excell.
“This is our biggest acquisition so far,” says Richline chief marketing officer Mark Hanna. “It is a very important one for us.”
Hanna notes that LeachGarner will continue to supply metals to other companies in the industry besides Richline, as well as to mints and other precious metal companies.
“Our goal is to become much more of a worldwide presence,” Hanna says. “The main synergy here is to learn and innovate in terms of bringing things from mill to market. We are very committed to the precious metal industry. Everything we are doing, including our 'May is Gold Month' positioning, is about taking a strong position in gold.”
Hanna also tells JCK that while Reuters reported the company was planning to purchase Italian manufacturer Unoaerre, that sale did not go through.