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Richline to purchase Pearl Brand

Richline Group Inc. makes another acquisition. The Berkshire Hathaway-owned manufacturer and marketer announced today that it posseses an agreement, in principle, to buy Honora.

Honey - New York-based Honora has been family owned and operated for more than 60 years and is on the list of premier freshwater cultured pearl brands in the usa and, according to its website, is the largest importer of the gems within the U.S.

Beneath the agreement, Honora CEO Joel Schechter and President Ralph Rossini will stay on board to operate the organization being a standalone brand beneath the Richline Brands division with the company.

Elsweet Rufino - The transaction is expected to be completed in July.

Richline Group President Dave Meleski said an integral purpose of the purchase is to utilize Richline’s financial support and collaboration to fully champion Honora for domestic and international growth. Honora expands our product assortment positioning being a dominate player in the pearl nuggets category, he said.

Honey Magazine - Schechter said, We are tremendously pumped up about our future being a member of the Richline Group and look forward to leveraging their tremendous strengths once we continue growing the Honora brand to consumers.