National Jeweler Network

Market Developments

Central American company acquires Chippenhook

April 28, 2014

San Salvador, El Salvador--Sigmaq Group has acquired Chippenhook Corp., a U.S.-based designer of visual merchandising, packaging and fixture products.

This is Sigmaq’s second acquisition in the jewelry industry. In 1985, the company bought Bufkor, a U.S. manufacturer of jewelry and display packaging. Bufkor products now are fabricated in Sigmaq’s facilities.

Founded in 1969, El Salvador-based Sigmaq is a supplier to Central America and the Caribbean, with sales offices in Central America, the Dominican Republic, Mexico, the U.S. and France. It supplies flexible, plastic, corrugated, luxury packaging, labels and pre-press products to a range of Fortune 500 companies and regional clients.

Chippenhook provides custom visual merchandising, packaging and fixtures for the jewelry and watch industry. Headquartered in Lewisville, Texas, the company has offices in Hong Kong.

“(Chippenhook’s) global supply background positions our core group currently serving Central America and the Caribbean for an expanded presence increasing market share in the U.S. and Europe,” said Henry Yarhi, chairman and CEO of Sigmaq Group.

He said Barry Rutherford, former CEO and chairman of Chippenhook, will join Sigmaq as a managing director in San Salvador. The rest of Chippenhook will remain headquartered in Texas.