We simply would not have gotten to this point without JD Merit's partnership.
SEATTLE (PRWEB) February 20, 2023
Headquartered in San Francisco, Herco Inc. is a leading wholesaler of fine jewelry, specializing in 14-karat, 18-karat and platinum designs. Founded by Reuven and Zehava Itelman in 1979, Herco has grown to serve over 3,000 customers across the United States and carries over 1,600 SKUs.
Joe Durnford, chairman of JD Merit & Co., said, “we were honored to work with the Itelman family to create liquidity for Reuven and Zehava while simultaneously positioning the Herco brand for a long legacy in the marketplace. Reuven has spent more than 40 years building a brand that is synonymous with quality and customer service, and we congratulate him on a well-earned retirement.”
Quality Gold, a leading vertically integrated specialty logistics and jewelry distributor, announced in late December that it would be acquired via SPAC by Tastemaker Acquisition Corp. (Nasdaq: TMKR). The strategic acquisition of Herco complements Quality Gold’s product suite and expands its distribution network.
Reuven Itelman, founder of Herco, added, “we are grateful to Joe and Sean for their efforts and guidance throughout this process. After 43 years in the jewelry business, I knew my business but didn’t know how to exit it. We simply would not have gotten to this point without their partnership. My wife and I are grateful to the customers and suppliers we’ve had over the years, and we are excited for a long retirement and time with family.”
Legal advisory was provided by George Buffington of Buffington & Aaron.
About Herco Inc.
Established in 1979, Herco is a wholesaler of and procurement specialist in gold, platinum, titanium, palladium, and gemstone jewelry, selling to boutique and omnichannel retailers across North America. The company has built a decades long reputation for quality, expert craftsmanship and product longevity.
Learn more at http://www.Herco.com.
About JD Merit & Co.
JD Merit is a leading boutique investment bank focused on serving middle-market, technology-forward companies. JD Merit executes sell-side M&A, buy-side M&A and capital advisory services. In addition, JD Merit offers other investment banking services such as debt and equity capital raises, restructuring advisory services, business valuations, project financing, and succession/exit planning. JD Merit Securities, member FINRA/SIPC, is a full-service broker-dealer licensed in 50 states.