
Ben Bridge Jeweler has bought Olympic Manufacturing, a local jewelry shop, in what the 34-store retailer calls “a significant step towards greater vertical integration.”
Financial terms were undisclosed.
“We haven’t traditionally done acquisitions like this,” company CEO and president Lisa Bridge tells JCK. “We have been fortunate to grow mostly organically. This was such an exciting opportunity to bring in a new skill set and new aspect of the business.”
Olympic, founded in 1975, will remain in Bellevue, Wash., close to Ben Bridge’s headquarters in Seattle. The custom shop also services other local retailers, which Bridge says will continue post-acquisition.
“We’re happy to support other local jewelers,” she says.
Olympic has traditionally been a “great partner” for Ben Bridge, handling much of the jeweler’s repair and custom work, says Bridge.
“We’re learning a tremendous amount, which is always exciting,” she says. “We will bring good things to them from an infrastructure standpoint and from an organization standpoint.
“It’s a beautiful shop,” she adds. “I’ve seen a fair amount of jewelry manufacturing, and I was really impressed the first time I visited the Olympic shop, from a cleanliness and organizational standpoint. It just felt like the right people to collaborate with.”
Since 2000, Ben Bridge has been part of Berkshire Hathaway, the holding company owned by Warren Buffett.
(Photo courtesy of Olympic Manufacturing)
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