Gitanjali Gems buys Samuels for Rs 200 cr
In order to expand its footprint in the North American market, leading jewellery manufacturer Gitanjali Gems has acquired US-based Samuels Jewelers for Rs 200 crore.
"We have acquired 97 per cent stake in a leading jewellery chain of US Samuels Jewelers for Rs 200 crore," a company official said.
Samuels Jewelers has been acquired from its current majority owner and fund manager, DDJ Capital Management, LLC, a boutique investment manager, based in Massachusetts, Gitanjali Gems informed the BSE. – PTI
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