30-05-2019
Hong Kong jeweller Continental Jewelry has recently announced the acquisition of 85-percent shareholding in New Jersey-based wedding band manufacturer Novell Enterprises. The amount of consideration, including cash and bank guarantee, was US$11.1 million, according to a statement from Continental.
Continental Jewelry is a division of Continental Holdings, a listed company in Hong Kong. Over the years since 1975, it has evolved into a leading fine jewellery maker and exporter in the region with a factory in China and offices in the UK, the United States and Canada.
According to the statement, Novell has a solid reputation for having the largest collection of wedding rings in the industry, appealing to a wide range of consumers with high level of customisation. It is believed that Novell is positioned to combine the strengths of Continental’s position in jewellery industry and leverage its network and resources to further expand in the State.
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