(IDEX Online News) – The Richline Group, a wholly-owned unit of Berkshire Hathaway Inc., has agreed in principle to acquire Honora, the US freshwater cultured pearl brand.

 

The transaction is expected to be completed in July.

 

Under the deal, Honora CEO Joel Schechter and President Ralph Rossini will remain to run the company as a standalone brand within the Richline Brands division of the Berkshire Hathaway Company.

 

Rossini said the firm was looking forward to "utilizing Richline's expertise and vast resources to expand our brand and strategic opportunities.”

 

Richline President Dave Meleski said a primary aim of the acquisition was to provide financial support and collaboration to enable domestic and international growth.