Renaissance Global’s wholly owned subsidiary -- Renaissance FMI Inc has acquired the assets of Four Mine Inc. The Company intends to fund the investment through cash on the balance sheet. Four Mine Inc. specializes in the sale of branded lab grown diamond engagement rings and this transaction will give Renaissance a strong foothold in this space, apart from improving the operating margin of the business through supply chain efficiencies.
This acquisition is strategic and synergistic in nature and further aligns with Renaissance’s goal to accelerate its branded jewellery business. Cost of acquisition is $5 million.
Renaissance Global is a global branded jewellery player. Renaissance designs, manufactures and supplies branded jewellery across key high-potential markets in USA, Canada, UK and key Asian markets.
