Envela acquires jewelry manufacturer Steven Kretchmer

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AK&M 18 September 2023 10:10

Envela Corp., an American jewelry company, has entered into an agreement to acquire Steven Kretchmer, Inc., a premium jewelry manufacturer. This is reported in the Envela press release.

The deal is aimed at diversifying Envela's Consumer Division, expanding customer offerings and increasing the value of equity.

Financing of the transaction will be made from available funds. Upon completion of the transaction, Steven Kretchmer will retain its headquarters in Scottsdale (Arizona) and enter the structure of Consumer Division Envela as a subsidiary.

Envela is engaged in wholesale and retail sale of jewelry, diamonds, watches and precious metal products in ingots. The company includes two business segments - consumer and commercial. The consumer segment manages retail stores and online sites offering premium brands and luxury securities, while the commercial segment provides personalized retail solutions. The headquarters is located in Dallas (Texas).

Steven Kretchmer is a premium jewelry manufacturing company. Steven Kretchmer develops innovative technologies for the use of alloys (magnetic platinum and alloys of non-standard colors), offering purple gold and branded jewelry with tension. The headquarters is located in Scottsdale (Arizona).