Richline Acquires Tru-Kay Manufacturing
By JCK Online Staff -- JCK Online, 1/16/2009 7:43:00 AM
Precious metals jewelry manufacturer and distributor Richline Group, Inc. said Friday that it has completed negotiations with Tru-Kay Manufacturing, Inc. for the exclusive worldwide distribution rights for all of its products.
Richline Group is a subsidiary of Warren Buffett's holding company Berkshire Hathaway Inc. The Mount Vernon, N.Y.-based company said Friday it will combine Tru-Kay’s strength, in competitive manufacturing with its expertise in sales, marketing, and operations to ensure that Tru-Kay’s jewelry designs are available to retailers around the world.
Tru-Kay, based in Lincoln, R.I., will continue producing all its products for such distribution, which include lockets, religious, children's jewelry, and the Ballou by Tru-Kay collection, and will continue to focus on gold, gold-filled, and silver.
Alan Kaufman will continue to manage the Tru-Kay brand as an executive vice president of the Richine Group. The company was founded in 1946 by Kaufman’s grandfather and is now a fourth generation company.
The other major brands comprising Richline’s portfolio are Alarama, ALA Casting, Aurafin, Bel-Oro, Gem Group, Michael Anthony, Prime Time, Sardelli, Gold Expressions, Town & Country, SeidenGang, and Baby Gold.
Richline said the transaction demonstrates its commitment of diversification through an international strategy as a leading, worldwide supplier of all manufactured fine jewelry. The Richline manufacturing base now includes facilities in Bolivia and the Dominican Republic, in addition to the United States.
Caption: Warren Buffet of Berkshire Hathaway Inc.
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