(BRK.A), (BRK.B)
One of the most active of Berkshire Hathaway’s companies this year in regards to acquisitions is one of its lesser known. The Richline Group, a fine jewelry manufacturer and marketer, has acquired its third company in the last three months.
Richline has announced the acquisition of Viawear, an innovative wearables provider for jewelry brands.
In April, Richline acquired Gemvara, a leading online provider of customizable fine jewelry, In June, Richline announced the acquisition of John C. Nordt, a leading manufacturer and supplier of precious metal products to the jewelry industry.
The acquisition of Viawear continues Richline’s focus on wearable tech, which included launching the Wearable Style News Website, and partnering with Omate on the distribution of Omate’s Ungaro smart ring.
“The world has embraced wearables, and we intend to provide our customers with the right jewelry products that blend seamlessly with the latest technology. Viawear’s technology and designs compliment everything we’ve set out to achieve in the smart jewelry space,” said Joel Schechter of the Richline Group.
According to Richline, Viawear has developed a unique approach to filtering mobile notifications and delivering the most contextual wearable alerts. With Viawear, wearers can stay connected to their most important alerts, and eliminate the need to constantly checking to see if they missed something important.
“Our objective has always been to develop smart accessories that truly complements our wearer’s lifestyle. Blending Richline’s tremendous jewelry acumen with Viawear’s technology platform allows us to make this vision into a reality that can help drive the world of fine jewelry into the world of wearable technology,” said Ben Isaacson, Founder and CEO of Viawear.
Bolt-On Acquisitions Continue to Power Berkshire’s Growth
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.