Enhancing Capabilities and Market Position
The acquisition positions Choron as a stronger leader in the international diamond pipeline, bolstering its manufacturing and distribution capabilities, particularly in large and high-value diamonds. While financial terms of the deal remain undisclosed, Choron emphasized the strategic importance of the acquisition for its global operations.
AMC Group, headquartered in Antwerp, operates manufacturing facilities in Stellenbosch, South Africa, and Belgium. The combined expertise and resources of both companies aim to create new opportunities for growth and innovation in the global diamond market.
Strategic Milestones for The Choron Group
The acquisition builds on Choron’s recent strategic initiatives. In August, Choron acquired an 8.4% stake in Burgundy Diamond Mines, the new owners of Canada’s Ekati mine.
In 2019, the group partnered with Dubai-based Stargems to purchase a 425-carat diamond from Petra’s Cullinan mine, which later sold for nearly $15 million. Last year, Choron acquired a 108.39-carat pink Type IIa diamond from Storm Mountain Diamonds, one of the world’s largest pink gems.
Facilitated by Bonas Group
The Bonas Group, an Antwerp-based diamond consultancy, facilitated the transaction. This collaboration underscores the importance of partnerships in driving significant deals within the diamond industry.
Leadership Statements
Anshul Gandhi, CEO of The Choron Group, expressed enthusiasm about the acquisition, stating: “This acquisition marks a significant milestone for Choron. AMC’s legacy of excellence and market leadership complements our vision to deliver unparalleled quality and service in the diamond industry.”
David Parnas, CEO of AMC Group, echoed Gandhi’s sentiments, adding: “This takeover ensures a bright future for our combined operations, and I am confident that our unified expertise and resources will create new opportunities for growth and success in the global diamond market.”
The acquisition signals a transformative moment for both companies as they aim to shape the future of the diamond industry through collaboration and innovation.
