Richline Group, Inc. has acquired Rio Grande, including Rio Grande’s Neutec branded equipment, from The Bell Group, Inc., effective Jan. 1.
“Rio Grande is another important and strategic addition to our brands,” Dennis Ulrich, CEO of Richline Group, said in a statement. “The firm’s unique and successful business model is a tribute to the leadership of the Bell family. Rio Grande has a great product line, talented people, and long term relationships with its clients”.
In the new corporate structure, Alan Bell and Molly Bell will remain to run the company as president and executive vice president, and the business will continue to operate as it has in the past. Eddie Bell will continue to oversee the Santa Fe Symposium and Neutec.
“The values of Warren Buffett and Berkshire Hathaway are very much in line with those on which Rio Grande is founded, and we couldn’t be more enthusiastic and optimistic about the future as a member of the Richline Group,” said Alan Bell in a statement.