Richline Group Acquires The Aaron Group

The acquisition adds a major industry supplier to the Berkshire
Hathaway owned firm.

NEW YORK–(BUSINESS WIRE)–Richline Group, a wholly-owned subsidiary of Berkshire Hathaway, and The
Aaron Group, a leading jewelry manufacturer and marketer, announced
today that Richline has acquired The Aaron Group business effective
today, January 11th.

“We are extremely excited and energized about joining forces with The
Aaron Group. The Aaron Group’s differentiated, prime-manufactured
products will offer Richline’s retail partners a dramatic new range of
options and increased value, while preserving the legacy of customer
satisfaction that both companies prioritize,” said Dave Meleski,
Richline Group’s President.

Since its founding as Samuel Aaron Jewelry in 1950, the Aaron Group has
grown from its New York City roots to become a widely renowned,
vertically integrated international jewelry manufacturer. Along the way,
the Aaron Group has remained a true family business and, under the
stewardship of third-generation leader Robert (Bobby) Kempler, has
achieved stature as a major global force, with operations, factories,
partnerships and hundreds of employees in New York, London, Mumbai, Hong
Kong, and Guangzhou.

Richline’s CEO, Dennis Ulrich, said “this acquisition will allow The
Aaron Group to continue as the leader of bridal, three-stone and fashion
diamond and gemstone fine jewelry while leveraging Richline’s advanced
capabilities across our entire jewelry value chain.”

Per Aaron Group President, Robert Kempler, “Richline Group support will
enable The Aaron Group to grow faster, introduce new designs and
collections more rapidly, and expand on our history of success by
reaching a broader array of customers and markets. Our mutual goal is to
anticipate, foster and drive positive change in our industry.”

About The Aaron Group

The Aaron Group is an international jewelry manufacturer with hundreds
of employees in offices around the world. A firm believer in the power
of jewelry to connect people, The Aaron Group has grown from its 1950
founding as a one-man shop to become globally recognized in the jewelry
industry, with an unblemished reputation for quality, value, and
commitment to the customer.

About Richline Group, Inc.

Richline Group, Inc., a wholly-owned subsidiary of Berkshire Hathaway
Inc., is the USA’s foremost Fine Jewelry Manufacturer and Marketer.
Currently the major brands comprising Richline’s portfolio are
LeachGarner, Inverness, Rio Grande and Richline Jewelry. Berkshire
Hathaway and its subsidiaries engage in diverse business activities
including property and casualty insurance, utilities and energy,
finance, manufacturing, retailing and services.

Contacts

Richline Group, Inc
Mark Hanna, 212-886-6212
Chief Marketing
Officer

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