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New DGSE Boss Eyes Acquisitions

Dec 18, 2016 10:53 AM   By Rapaport News
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DGSE Companies is targeting acquisitions as it seeks to become profitable and competitive again, the company’s new chief executive officer (CEO) said. 

John Loftus became DGSE's fourth CEO in three years when he took office on December 12. He replaced Matthew Peakes, who resigned from the board, effective December 10. The Dallas-based company earlier reported its net loss widened 38 percent to $1.2 million in the first half.

“DGSE’s retail stores can regain profitability and competitiveness, but to get there we will need to transform our operational strategies from within, build on our core strengths, and streamline operations,” Loftus said. 

DGSE will also “focus on strategic or transformative acquisitions of smaller competitors, subsidiaries, or other complementary businesses,” Loftus said. “The targets may include retail or wholesale entities, likely focusing on precious-metal related businesses in the near term.”

Loftus’s predecessor, Peakes, became CEO in September 2015, taking over from James “Dusty" Clem. Clem replaced James Vierling in the role in April 2014.

Image: Daxis
Tags: DGSE, DGSE Companies, Elemetal, James Vierling, John Loftus, M&A, Matthew Peakes, mergers and acquisitions, precious metals, Rapaport News
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