Richline, the jewelry manufacturer that is part of Warren Buffett’s Berkshire Hathaway, has two new additions to its stable.
The first is Andin, a mass market jewelry manufacturer based in New York. Ofer Azrielant, Andin’s owner, will become executive vice president of Richline’s Gem Group. The company said in a statement that Andin “joined the Richline family.” It has discouraged use of the word “purchased.”
Richline also bought the intellectual property, trademarks, and tools of the Colibri Group from Internet site bidz.com. Among the brands in this transaction are Krementz, Van Dell, Shiman, Dolan & Bullock, Taylor Avedon, Angelite, Skal, Skalet, Magical Years, Little Miss Pride, Sideways, Darling Diamonds, Fingerprint Locket, and others.
Bidz also agreed in principle to buy future closeouts from Richline on a nonexclusive basis. The e-commerce site paid $6 million for the brands in a bankruptcy auction in March. The new purchase price was not disclosed.