Bidz Sells Colibri Assets to Richline
Rob Bates -- JCK Online, 4/17/2009 11:41:00 AM
Bidz.com has sold the intellectual property, trademarks and tools it recently purchased in the bankruptcy auction of The Colibri Group to Richline Group, the jewelry manufacturer that is part of Warren Buffett-owned Berkshire Hathaway.
Among the brands in this transaction are Krementz, Van Dell, Shiman, Dolan & Bullock, Taylor Avedon, Angelite, Skal, Skalet, Magical Years, Little Miss Pride, Sideways, Darling Diamonds, Fingerprint Locket and others.
Bidz, an online auction site which specializes in close-out merchandise, also agreed in principle to buy future close-outs from Richline on a non-exclusive basis.
The acquisitions are the latest additions to Richline’s growing portfolio of jewelry brands, which currently includes Bel-Oro, Michael Anthony, Aurafin, AuraGem, Sardelli, Pace Designs, Prime Time, Alarama, ALA Casting, Gold Expressions, Town & Country Jewelry, and Baby Gold.
The ecommerce site paid $6 million for the brands in March. The new purchase price was not disclosed.
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Question: Then why didn't he bid for the brands in the first place? I hope he didn't pay a premium to bidz! Oh, and he lost the strongest brand name (Colibri) to that other manufacturer. Dolan Bullock is probably the best buy here, IMO
Weisfield - 2009-21-4 12:56:00 EDT -
This new acquisition of Colibri by The Richline Group, proves once again
that Dennis Ulrich, who runs Richline for Warren Buffett, is one of the
smartest and aggresive jewelry person in the industry. He has an uncanny
ability of knowing when to buy and most importantly, when to sell.
howard goodman - 2009-21-4 12:37:00 EDT
JCK Year In Review 2009
11/30/2009Richline Gets Andin, Colibri Trademarks
05/31/2009JCK Show Report
06/01/2009Alarama Purchased by Buffett Group
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