Goldenwest Diamond Corp., owner of the Jewelry Exchange chain, has announced that it is negotiations to acquire an interest in Israeli diamond company EZ Diamonds.
EZ Diamonds calls itself “among the world’s largest manufacturers of small round diamonds (up to 0.75 ct.) produced by highly skilled craftsmen in China.”
“The deal is not done, but imminent, due to close by the end of the month,” CEO Bill Doddridge tells JCK.
A statement noted that the two companies have been business partners for over 25 years. Goldenwest said its relationships and purchasing volumes from other companies should not be affected.
“EZ Diamonds is an impressive, well-run company with many international holdings and this will provide some vertical integration for Goldenwest,” said a company statement.
The Tustin, Calif.–based Goldenwest’s 16 stores include 13 Jewelry Exchange stores, two Jewelry Factory stores, and one Jewelry Source store, as well as an online store.