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Signet Buys Marks & Morgan for $115 Million.(Brief Article)
The London-based Signet Group, parent firm of Sterling Inc., has bought Marks & Morgan, the ninth largest U.S. specialty retail jeweler, for $115 million. Its stores, which will be operated by Sterling, are located in malls throughout the Southeast. The acquisition was announced June 1.
About 80 of Marks & Morgan's 137 stores will be converted to Kay Jewelers, Sterling's national signature chain. The rest will be integrated into Sterling's regional chains. Sterling is the second largest U.S. jeweler. Marks & Morgan, headquartered in Augusta, Ga., was formerly known as Friedman's Jewelers (not to be confused with …
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