Kassoy acquired but will keep its name as it moves from family ownership

Kassoy, the Hicksville, N.Y., company that supplies jewelry retailers and manufacturers, said Tuesday that its operations have been acquired by a new corporation named Kassoy LLC. Hans E.R. Bosch, the CEO of Kassoy LLC, is also the managing director of Kenstan, which distributes security locking systems for showcases and other fixtures.

In a statement the company said that the acquisition will provide the Kassoy the jewelry industry with an even more robust single source for all gemological and bench tools, packaging, fixtures, displays, and bar coding systems.

Kassoy’s former owner and president Peter Gollon will continue in an advisory role with the company and will actively assist in the transition for at least the next year. Joanne Slawitsky will continue as vice president and will have an expanded role in both strategic and daily operations. Kassoy will maintain its key New York City showroom facilities located in Manhattan’s 47th St. Diamond District. The business will continue its normal operations though the transition to new ownership, with Gollon commenting that “Kassoy’s customers will see no diminution of our standards for top quality and customer service.” Kassoy will move its headquarters into a new facility in nearby Plainview, N.Y. in early 2007.

“Even though Kassoy has been in the Gollon family for 46 years, and I personally have been involved in running the company for the last 27 years, I am very much looking forward to working with Hans and his team,” Gollon said. “I am excited by our combined plan for continuing to grow the business and increase our value to the jewelry industry. I’m gratified that the entire staff of the company—who all contributed greatly to the success of the business over the years—will continue to serve our customers from our base here on Long Island.”

Kassoy was founded in New York by Irving Kassoy in 1936, selling tweezers, diamond papers, and other supplies to diamond dealers. Today Kassoy has over 3,000 different SKUs in inventory, and a complete product line of more than 40,000 items. This includes its signature product, the Kassoy 10X loupe, which is the best selling jewelers loupe in the world. Other products include high technology microscopes, colorimeters, diamond proportion machines and complete gemological laboratories. In addition to its own brand, some of the brand names sold by Kassoy include Metter Toledo, Sartorius, Krüss, Bausch & Lomb, and Ohaus. Some of these have exclusive relationships with Kassoy as the only distributor of their products in the United States. Kassoy also introduced jewelry bar code printing and scanning technology to the jewelry industry.