Richline Group acquires Rio Grande

by eyetee | January 2, 2013 3:28 pm

SB_Rio-Grande-A-Berkshire-H[1]
Siblings Alan, Molly, and Eddie Bell (left to right) will remain with Rio Grande following its acquisition by Richline Group, a Berkshire Hathaway Co.

Warren Buffett’s jewellery empire just got a little brighter with Richline Group’s acquisition of Rio Grande from the Bell Group.

Richline Group is a Berkshire Hathaway Co.

“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, who will run Rio Grande as its president. His sister, Molly, has been appointed executive vice-president. Their brother, Eddie, will continue to oversee the Santa Fe Symposium and Neutec, Rio Grande’s branded equipment division.

Richline Group chief executive officer (CEO) Dennis Ulrich called the acquisition “another important and strategic addition to our brands.”

“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.”

Richline also recently acquired metals and findings supplier, LeachGarner, and Inverness, a manufacturer of ear-piercing systems.

Endnotes:
  1. [Image]: http://www.jewellerybusiness.com/wp-content/uploads/2013/01/SB_Rio-Grande-A-Berkshire-H1.jpg

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