Richline Group has agreed in principle to acquire the Honora brand.
The transaction is expected to be completed in July. Honora has been a family-owned and operated business for more than 60 years.
“A key goal of this acquisition is the utilization of our financial support and collaboration to fully champion Honora, as a brand, for domestic and international growth,” said Dave Meleski, Richline Group’s president, in a statement. “Honora expands our product assortment, positioning us as a [dominant] player in the pearl jewelry category.”
Honora CEO Joel Schechter and President Ralph Rossini will continue to run the company as a standalone brand within the Richline Brands division of Berkshire Hathaway Co.
“We are tremendously excited about our future as a member of the Richline Group, and look forward to leveraging their tremendous strengths as we continue growing the Honora brand to consumers,” Schechter said in a statement.