> Warren Buffett Blog: Berkshire company buys precious metal company John Nordt

Wednesday, June 1, 2016

Berkshire company buys precious metal company John Nordt

Richline Group, a jewelry company owned by Warren Buffett’s Berkshire Hathaway, made a second acquisition in less than a month with the purchase of a precious-metals company, John C. Nordt.

Nordt, a manufacturer for and supplier to the jewelry industry, was founded in 1872 in New York and has operated in Roanoke, Virginia, since 1984.

The deal, effective June 1, comes hot on the heels of Richline’s purchase of online jewelry seller Gemvara.

“Nordt is another important and strategic addition to our brands. The synergies between Nordt and our LeachGarner and Nobilis business units will accelerate our growth into the platinum-group metals industrial markets,” said Joe Esposito, Richline’s executive vice-president of manufacturing.