Asprey International, newly minted parent of the Asprey and Garrard brands, has spun off Garrard to The Yucaipa Companies LLC, according to principals.

The announcement comes just three days after Sciens Capital Management LLC and Plainfield Asset Management LLC acquired Asprey and Garrard in a management buyout.

The value of the transaction has not been disclosed. Garrard’s sales last year were $7.5 million.

Robert Procop, Garrard’s new managing partner, said his plan is to retain Jade Jagger and her creative team and remain firmly in the high-end jewelry market.

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