Warren Buffett Makes Jewelry Play

The recent purchase of Bel-Oro and Aurafin by Berskhire Hathaway, the investment arm of billionaire Warren Buffet, will create “one of the largest” jewelry suppliers in the United States, Mark Hanna of Bel-Oro told JCK. “The combination of the two of us together probably makes us the largest volume supplier in the trade, but I don't like making absolute claims,” Hanna said. The two companies will form a new company called Richline, headed by Dennis Ulrich, president of Bel-Oro. Dave Meleski, chief executive officer of Aurafin, will be its president. Among the brands under the Richline umbrella: Aurafin, Baby Gold, Bel-Oro, Gold Expressions, Michael Anthony, Oro America, Pace Designs, Sardelli, and Silver Bell. “Each of the brands will be managed independently with separate products, with separate sales and service teams,” Hanna said. “We will go to the market with seven
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