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New DGSE Boss Eyes Acquisitions
Dec 18, 2016 10:53 AM
By Rapaport News
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RAPAPORT... 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
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Tags:
DGSE, DGSE Companies, Elemetal, James Vierling, John Loftus, M&A, Matthew Peakes, mergers and acquisitions, precious metals, Rapaport News
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