Renaissance Global Limited (Renaissance), a global branded jewellery player, has acquired the assets of Four Mine Inc. through its wholly-owned subsidiary Renaissance FMI Inc.
Further, the Company intends to fund the investment through cash on the balance sheet.
“Four Mine Inc. specializes in the sale of branded lab grown diamond engagement rings and this transaction will give Renaissance a strong foothold in this space, apart from improving the operating margin of the business through supply chain efficiencies”, said company in a regulatory filing on Thursday.
At around 11:01 AM, Renaissance Global was trading at Rs822.60 apiece up by Rs38.8 or 4.95% from its previous closing of Rs783.80 apiece on the BSE.
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