New York—Rosy Blue NV has taken a minority stake in diamond manufacturer Leo Schachter, the company announced this week.

The transaction is expected to close soon.

Leo Schachter, with head offices in Ramat Gan, Israel is a diamond wholesaler, polished manufacturer and jewelry manufacturer. The company makes The Leo Diamond, and is a Forevermark partner and De Beers sightholder.

Antwerp-based Rosy Blue NV is a wholesaler and manufacturers both polished diamonds and finished jewelry. The company also is a De Beers sightholder and is a client of Alrosa and Canadian diamond mining company Dominion.

In a press release, Leo Schachter said it will continue to operate independently under the Schachter family’s majority ownership with its principals and current executive team in place.

The company and Rosy Blue will otherwise work to create “operational efficiencies” by tapping into each other’s processing and administrative infrastructure worldwide.

“From its inception in the diamond business 65 years ago, our two families have been blessed in identifying enduring partnerships where hard work, merged with diverse talents and ways of thinking, have produced excellent results,” Elliot Tannenbaum, principal at Leo Schachter, said. “We feel that the relationship and collaboration that we have enjoyed with the Rosy Blue family for over two generations will produce a unique and innovative platform for the demands of today’s diamond industry.”

Leo Schachter declined to provide any further details on the deal at this time.

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