The American Gem Society has acquired the remaining 49 percent interest of American Gem Society Laboratories, making it a fully owned subsidiary of AGS.
AGS has held a 51 percent majority stake in AGS Labs since the company’s formation in 1996. The new acquisition allows unified brand promotion and cohesive plans for global expansion.
AGS Labs will continue to have its own board of directors and will keep its focus on consumer protection.
“While AGS needed private investors to launch AGS Labs, the original intent was to always have it be a wholly owned subsidiary,” Ruth Batson, AGS executive director and CEO, said in a statement. “The buyout benefits the AGS members and the AGS Lab’s clients allowing the combined forces to work more closely together to better service the customers of the Labs and the members of the AGS.”Follow JCK on Instagram: @jckmagazine
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