JCK ONLINE: Bidz Sells Colibri Assets to Richline

Rob Bates -- JCK-Jewelers Circular Keystone, 4/17/2009 9:41:00 AM

Bidz.com has sold the intellectual property, trademarks and tools it recently purchased in the bankruptcy auction of The Colibri Group to Richline Group, the jewelry manufacturer that is part of Warren Buffett-owned Berkshire Hathaway.

Among the brands in this transaction are Krementz, Van Dell, Shiman, Dolan & Bullock, Taylor Avedon, Angelite, Skal, Skalet, Magical Years, Little Miss Pride, Sideways, Darling Diamonds, Fingerprint Locket and others.

Bidz, an online auction site which specializes in close-out merchandise, also agreed in principle to buy future close-outs from Richline on a non-exclusive basis.

The acquisitions are the latest additions to Richline’s growing portfolio of jewelry brands, which currently includes Bel-Oro, Michael Anthony, Aurafin, AuraGem, Sardelli, Pace Designs, Prime Time, Alarama, ALA Casting, Gold Expressions, Town & Country Jewelry, and Baby Gold.

The ecommerce site paid $6 million for the brands in March. The new purchase price was not disclosed.

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