London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
Rio Grande Names New President
Vice President of Sales and Marketing Arien Gessner will succeed Alan Bell when the latter retires in early 2020.

Albuquerque, N.M.—Rio Grande, a division of Richline Group, has announced a new president.
Vice President of Sales and Marketing Arien Gessner will step up to succeed Alan Bell in the role.
“Having worked with Arien for over five years, I am very confident that he is the right person to lead Rio Grande into the future while protecting the culture and core values that are so much a part of Rio Grande’s DNA,” Bell said.
The jewelry supply company said that since joining, Gessner has spearheaded innovative projects like the RioPro program.
Gessner will work alongside Bell for the rest of 2019 to assure a smooth transition before assuming the president role when Bell retires in early 2020.
“Arien is a proven leader with business vision and the ability to bring people together. His vision and energy will be invaluable to our leadership team and our company as we continue our next chapters of product innovation and legendary customer service,” Executive Vice President Molly Bell said.
“The entire leadership team participated in a thoughtful approach in determining Alan’s successor, a careful process that our customers, partners and employees expected and deserved. As Alan plans for retirement in 2020 and I am just a few years behind him, Arien’s transition to this role provides a sound and exciting long-term plan for the future.”
In addition to Gessner and Alan and Molly Bell, Rio Grande’s executive team includes Danny Cox, Mike Quinn, Nora Kennedy and Mark Weber.
Saul Bell founded the Albuquerque, New Mexico-based company in 1944.
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