Tara Jewels buys US firm, will be in global league

MUMBAI: Mumbai-based Tara Jewels Export Pvt Ltd has acquired a 75% stake in US-based jewellery distributor Fabrikant Leer International. The company has been renamed Fabrikant Tara International LLC.

The acquisition involves transfer of majority operations of Fabrikant Leer International to India, including the diamond and jewellery manufacturing, processing and accounting.

According to Rajeev Sheth, CMD, Tara Jewels, the new company will be among the biggest jewellery manufacturing and distribution company in the world. “The combined turnover would be in the range of $300 million,” Sheth said.

Tara Jewels is one of India’s largest manufacturers and exporters of gold and diamond-studded jewellery.