Friday, 23rd April 2004 (4929 views)

SGD Holdings Ltd has acquired 80 per cent of the common stock of Gem Pak Inc, a Texas-based importer and wholesaler of custom jewellery packaging and jewellery displays, through its wholly-owned subsidiary, HMS Jewelry Company Inc.

"Gem Pak brings a whole new dimension to our company and broadens our product offering to retail jewellers. We are excited about this addition to the company," Harry Schmidt, president of HMS, said.

HMS is a wholesaler, manufacturer and importer of fine jewellery, specialising in 18K, 14K and 10K gold and platinum jewellery. The company markets its products by catalogue to over 30,000 retail jewellers each year.

Based in Dallas, Texas, HMS sold over 1 1/2 metric tons of gold last year through its catalogue, telephone ordering system and through its B2B online catalogue.

Terry Washburn, president of SGD Holdings Ltd, claimed the acquisition would help the group implement its strategy of building resources in the jewellery industry to compete throughout the United States.

"We are now positioned to generate stronger financial returns through our broader mix of assets, technology, personnel and inventory," he explained. "We feel this acquisition creates greater value for our shareholders by expanding our customer base and offering a broader range of product to our customers."

 

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