GradingJan 13, 2023
Sarine To Acquire Majority Stake in GCAL MajorsJan 20, 2023
Quality Gold Acquires Herco
Herco President Reuven Itelman is retiring and selling the company, which will relocate to Ohio from California.
Quality Gold has announced plans to acquire Herco, the San Francisco-based jewelry wholesaler founded in 1979 that specializes in higher-end 14- and 18-karat gold and platinum jewelry.
Fairfield, Ohio—Quality Gold has made another acquisition.
The jewelry wholesaler and distributor announced late Thursday it is buying Herco Jewelry Company, the San Francisco-based wholesaler started by the Itelman family in 1979.
Herco President Reuven Itelman is retiring and said he wanted to find a buyer that would keep the Herco name alive.
He believes he found that in Quality Gold.
“In speaking with and getting to know [Quality Gold co-founder and CEO] Michael Langhammer, I have complete confidence that the long-lasting Herco reputation that has been important to me is now in good hands with Quality Gold. Quality Gold has a strong relationship with independent jewelers and a plan for Herco to live on,” Itelman said.
For Quality Gold, the acquisition of Herco gives it the ability to distribute more 18-karat gold and platinum jewelry and tap into Herco’s network of luxury independent retailers, all while still offering jewelry under the Herco brand.
Herco generated more than $25 million in revenue (unaudited) in its latest fiscal year ended Dec. 31, 2022.
Quality Gold Chief Operating Officer Jason Langhammer called it a “smart and strong addition” for the company.
“We expect as a result of this transaction, there is the potential for significant synergies that will make Herco, and by extension Quality Gold, stronger companies. We look forward to building upon their success and continuing to offer the Herco brand to retailers,” he said.
Terms of the transaction are not being disclosed.
Quality Gold will begin fulfilling Herco orders in mid- to late February and will honor all current retailer memos, the company confirmed.
Over time, Herco’s operations will move from San Francisco to Quality Gold’s headquarters in Fairfield, Ohio, a Cincinnati suburb. Quality Gold said information is not available at this time as to whether it will retain any of Herco’s employees.
The deal is expected to be completed by mid-February.
“I am incredibly grateful to the entire jewelry community that my family and I have had the pleasure to be part of for 43 years,” Itelman said.
“Over the years, I’ve developed relationships with manufacturers and retailers worldwide. There is nothing more beautiful than the jewelry business. It is where art, engineering, and design come together. It has given me great fulfillment in my life, and I’ve learned so much from others who care deeply about this industry.”
The pending purchase of Herco is the latest in a series of acquisitions for Quality Gold, which most recently bought IBGoodman Manufacturing Co.
Last fall, Quality Gold announced plans to go public via a merger with Special Purpose Acquisition Company (SPAC) Tastemaker Acquisition Corp.
That deal is expected to close sometime in the first quarter of 2023.
Once it does, Quality Gold will become Quality Gold Holdings Inc. and trade on the Nasdaq stock exchange under the ticker symbol “QGLD.”
More on Majors
The Latest
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
FinancialsDec 02, 2025
Signet Jewelers’ Q3 Sales Up Amid Continued Focus on Lower Price PointsThe retailer offered more fashion jewelry priced under $1,000, including lab-grown diamond and men’s jewelry.
CollectionsDec 02, 2025
Briony Raymond Introduces First FragranceThe eau de parfum is held in a fluted glass bottle that mirrors the decor of the brand’s atelier, and its cap is a nod to its “Sloan” ring.
SourcingDec 02, 2025
Petra Diamonds Elevates Interim CEOs to Permanent StatusVivek Gadodia and Juan Kemp, who’ve been serving as interim co-CEOs since February, will continue to lead the diamond mining company.
IndependentsDec 02, 2025
RJO Welcomes Its 1,200th Retail MemberWitt’s Jewelry in Wayne, Nebraska, is the organization’s new milestone member.
SourcingDec 02, 2025
Brendan Laurs Honored With 2025 Bonanno AwardLaurs is the editor-in-chief of Gem-A’s The Journal of Gemmology and an expert on the formation of colored gemstone deposits.
CrimeDec 01, 2025
Fourth Man Charged in Louvre Jewelry HeistThe man, who has a criminal history, is suspected of being the fourth member of the four-man crew that carried out the heist.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
SourcingNov 25, 2025
Finestar Opens Diamond Manufacturing Facility in JohannesburgIt joins the company’s other manufacturing facilities globally, including in India, Botswana, and Namibia.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
