Jewelry manufacturer Quality Gold has acquired Swiss Crown USA, a wholesale watch company specializing in independently certified pre-owned Rolex watches.
The acquisition is expected to be completed by the end of January. No terms were disclosed.
Based in Chicago, Swiss Crown USA was founded in 2013 by two industry veterans, Daniel Marks and Scott Freberg. It provides retailers with a turnkey solution for selling pre-owned luxury timepieces.
“This acquisition accelerates our growth, particularly within the pre-owned Rolex watch segment,” said Jason Langhammer, chief operating officer of Quality Gold, in a statement. “It is a smart and strong addition for us.”
In the same statement, Freberg said that “key employees” of Swiss Crown will be joining Quality Gold, including brand manager Jack Newtown. The company will relocate to Quality Gold’s headquarters in Fairfield, Ohio.
Quality Gold has purchased other jewelry-related businesses in recent years: Herco last January, and IBGoodman in 2022. Quality attempted to go public through a SPAC (special purpose acquisition company) in 2022, but the plan was ultimately canceled.
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