Rosy Blue to Buy Stake in Leo Schachter

RAPAPORT… Polished manufacturer Rosy Blue has agreed to acquire a
minority share in Leo Schachter, as the diamond suppliers seek to make their
operations more efficient.

The deal will enable the firms to use each other’s
infrastructure around the world, providing better value for their clients, Leo
Schachter said in a statement Monday. Leo Schachter will still operate
independently under the Schachter family’s majority ownership, led by its
current management team, it noted.

The firms expect the transaction to close soon, but did not
disclose other terms of the agreement.

“The relationship and collaboration which we have enjoyed
with the Rosy Blue family for over two generations will produce a unique and
innovative platform for the demands of today’s diamond industry,” said Elliot
Tannenbaum, principal at Leo Schachter.

The companies have been working together for more than 30
years, Leo Schachter noted. They both receive rough supply from De Beers, as
sightholders, and from Alrosa’s contract-sales business, and have offices in
all major industry hubs.