Dynamix Jewelry to Purchase JewelAmerica

The Dynamix Jewelry Group, a jewelry manufacturer based in India, has entered into an agreement to acquire JewelAmerica Inc. in a transaction to be completed in October, JewelAmerica said in a release Friday.

Last year, the Dynamix Jewelry Group made an initial investment in JewelAmerica through an affiliated company. Dynamix has been expanding its jewelry interests. It reportedly has interests in several jewelry manufacturing and chain producing factories in India.

JewelAmerica is a designer, manufacturer and distributor of precious metal jewelry set with diamonds and color stones sold primarily to volume retailers through five divisions - Jewelmont/Jene, Oro Dall ‘Italia, Jana, Baith and Astoria.

JewelAmerica founders will have continuing roles in JewelAmerica as Zvi Wertheimer, Rachel Wertheimer and Israel Ashkenazy will remain as senior executives in sales and merchandising.