![]() We look forward to building upon their success and continuing to offer the HERCO brand to retailers.” We expect as a result of this transaction, there is the potential for significant synergies that will make HERCO, and by extension Quality Gold, stronger companies. “It is a smart and strong addition for us. ![]() “This acquisition accelerates our growth, particularly within the 18K and Platinum segments,” said Jason Langhammer, Chief Operating Officer of Quality Gold. The business Reuven Itelman and his family created has a loyal retailer base, and we look forward to having the opportunity to leverage their industry expertise, product portfolio, and customer network as we continue to deliver value to our e-tail and retail partners across the world.” “Both Quality Gold and HERCO have demonstrated a track record of success as family-owned businesses spanning several decades, and we believe HERCO represents an ideal acquisition given its strong product offerings and distribution capabilities. "We are thrilled to welcome HERCO into the Quality Gold family,” said Quality Gold’s co-founder and Chief Executive Officer, Michael Langhammer. In its fiscal year ended December 31, 2022, HERCO generated more than $25 million in revenues (unaudited) demonstrating its leadership position and ability to deliver a superior product portfolio, with a comprehensive range of prices servicing a wide range of end-consumers through luxury independent retail establishments. The acquisition is expected to be completed by mid-February.Įstablished in 1979 by the Itelman family in California, HERCO has been successfully distributing jewelry offerings through its large, diverse client base across the United States for more than 40 years. (Nasdaq: TMKR) (“TMKR” or Tastemaker”), today announced it has signed a definitive agreement to acquire HERCO Jewelry Company (“HERCO”), a leading family-owned wholesale jewelry company specializing in higher-end 14K, 18K, and Platinum designs. and certain of its affiliates and subsidiaries (“Quality Gold” or the “Company”), a leading vertically integrated specialty logistics and jewelry distributor that has entered into a business combination agreement (the “Business Combination Agreement”) with Tastemaker Acquisition Corp. 19, 2023 (GLOBE NEWSWIRE) - Quality Gold, Inc. Strategic acquisition of wholesale jewelry company, HERCO, which generated more than $25 million in revenues (unaudited) in its fiscal year 2022, complements Quality Gold’s product suite and expands its distribution networkįAIRFIELD, Ohio, Jan. ![]() Vertically integrated jewelry distributor continues to execute on proven acquisition playbook
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