Coloured gemstone miner Gemfields has purchased famed jewelled egg designer, Fabergé for $142 million, adding another link in its mine-to-market chain.
“[The merger] provides exposure to the two most profitable segments in the gemstones value chain, namely mining and consumer sales,” said Gemfields chief executive officer (CEO) Ian Harebottle.
“Fabergé is a globally recognized brand with a unique heritage, a history of excellence, and a commitment to coloured gemstone products, sales, and marketing, all of which is perfectly demonstrated by the magnificent Romanov necklace crafted from 2225 emeralds and diamonds and unveiled earlier this year. The proposed acquisition is transformational for the company, our team, and our shareholders, and has the potential to deliver significant value, expanded growth, and diversification opportunities to the company and our shareholders.”
Fabergé had been owned by the Pallinghurst Group, an investment company that also owns part of Gemfields.
