MANUFACTURING

Richline Group to acquire Rio Grande

BLOOMBERG FILE PHOTO/SCOTT EELLS
RICHLINE GROUP INC., a Berkshire Hathaway company, will acquire Rio Grande from The Bell Group Inc. on Jan. 1.
Posted 12/28/12

WARWICK – Berkshire Hathaway Inc. subsidiary Richline Group Inc. will acquire Albuquerque, N.M.-based Rio Grande from The Bell Group Inc. effective Jan. 1, the company announced Friday.

The acquisition includes Rio Grande, a leading jewelry-industry brand known for its unique culture, vast product offering and special brand of customer service, as well as Rio Grande’s Neutec branded equipment.

“Rio Grande is another important and strategic addition to our brands. The firm’s unique and successful business model is a tribute to the leadership of the Bell family,” said Dennis Ulrich, CEO of Richline Group, in a statement. “Rio Grande has a great product line, talented people and long term relationships with its clients.”

In the new corporate structure, siblings Alan Bell and Molly Bell, will remain to run the company as president and executive vice president and the business will continue to operate as it has in the past, according to a Richline release. Eddie Bell will continue on to oversee the Santa Fe Symposium and Neutec.

“The values of Warren Buffett and Berkshire Hathaway are very much in line with those on which Rio Grande is founded, and we couldn’t be more enthusiastic and optimistic about the future as a member of the Richline Group,” Alan Bell said in prepared remarks.

Earlier this year, Richline Group successfully completed the purchase of Cookson Precious Metals/Material Products Group, which was renamed LeachGarner, a Berkshire Hathaway Co.

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • 40 Under Forty
    We're almost sold out. The 10th Anniversary of 40 Under Forty, and PBN is planni ...
  • Healthiest Employers
    Save the date - August 14th - at the Providence Marriott for the 3rd annual Heal ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement