"Two diamond powerhouses are joining forces", writes Rob Bates of JCK concerning polished diamond manufacturer Rosy Blue taking a minority share in Leo Schachter, another of the world's leading polished diamond suppliers. The companies say the pending deal will, "create operational efficiencies by tapping into each other’s vast processing and administrative infrastructure around the globe with a view to delivering even better value to our respective clientele." They add that the transaction, "anticipated to close soon, will mark a culmination of over thirty years of trading relationship built between the two groups." Other terms of the agreement, such as the percentage of Rosy Blue's stake, were not announced. Leo Schachter will continue to operate independently under the Schachter family’s majority ownership, by its principals and the leadership of the current executive team.
Both companies source their rough from De Beers, where they are sightholders, and ALROSA as contracted buyers, and have a presence in all of the major diamond trades centers. "From its inception in the diamond business 65 years ago, our two families have been blessed in identifying enduring partnerships where hard work, merged with diverse talents and ways of thinking, have produced excellent results.", said Elliot Tannenbaum, Principal at Leo Schachter. "We feel that the relationship and collaboration which we have enjoyed with the Rosy Blue family for over two generations will produce a unique and innovative platform for the demands of today's diamond industry." Amit Bhansali, Managing Director of Rosy Blue NV added, “Rosy Blue has enjoyed a very long and trusting relationship with Leo Schachter ... The forward-thinking and responsible nature of Elliot and his team will be a great benefit to Rosy Blue as we navigate the evolving market.”