India based jewelry maker buys out Samuels Jewelers
21 Dec '06
2 min read
Samuels' President and CEO, Randy McCullough commented, “Samuels is excited to have Gitanjali as a majority shareholder and vendor partner. We look forward to working with Gitanjali and see this transaction as a tremendous opportunity for expanded market share and future growth.”
Financo, Inc. served as financial advisor and Greenberg Traurig, LLP as legal advisor to Samuels. Keynote and Virtus Global Partners served as financial advisors, Klestadt & Winters, LLP as legal advisors, and Marks, Paneth and Shron LLP as accountants to Gitanjali.
In connection with the stock purchase transaction, Samuels has obtained a financing facility from Wells Fargo Retail Finance, LLC. Samuels anticipates that the $60 million facility will be more than sufficient to meet its cash flow needs for the foreseeable future.
marketing@alchempro.com
