Independent jewelry retailer Diamonds Direct and investment firm Blackstone recently announced that funds overseen by Blackstone Tactical Opportunities have purchased Diamonds Direct.
Diamonds Direct is based in Charlotte, North Carolina and has seven retail locations across the United States, including one in Charleston, South Carolina.
“This is a very exciting day for Diamonds Direct,” CEO Itay Berger said. “Diamonds Direct’s partnership with Blackstone will enable us to continue to deliver unparalleled service and unbeatable prices. We are thrilled to begin a new chapter for our employees and customers with Blackstone as we enter a new phase of growth.”
Jasvinder Khaira, managing director of Blackstone Tactical Opportunities, agreed.
“Blackstone is extremely excited to partner with Itay and the existing management team to accelerate the company’s growth,” he said. “Providing capital to entrepreneurs is a hallmark of Blackstone’s growth investments and we look forward to working with the Diamonds Direct team on their continued success and growth.”
The transaction closed in early November.