OROAMERICAN BUYS ECLIPSE DESIGN
NEW YORK — OroAmerica, a manufacturer and marketer of a vast array of gold and silver jewelry, has acquired Eclipse Design Inc., a manufacturer of gold earrings.
OroAmerica purchased all operating assets of Eclipse Design, including customer lists and the right to use the “Eclipse Design” brand name.
New York-based Eclipse Design generated sales of approximately $8 million in 1997, mostly to wholesalers and other manufacturers.
In its fiscal year, which ended Jan. 30, Burbank, Calif.-based OroAmerica had sales of $159.7 million, $5.6 million of which was in earring products. OroAmerica is a supplier to large jewelry chains and catalogs in the moderate and mass market.
“The Eclipse-brand earring line immediately expands OroAmerica’s product offerings, and we expect it to significantly strengthen our industry position,” said Guy Benhamou, president and chief executive officer of OroAmerica, in a statement.
Benhamou said the firm expects to announce additional acquisitions in the fiscal year.