Sarine has signed an MoU to purchase a majority share of the New York's Gem Certification & Assurance Lab (GCAL) against an all-cash consideration. Established in 2001, GCAL’s mission is to provide the most accurate and consistent gemological services with uncompromising integrity and unparalleled customer care. GCAL remains the only gem lab in the world to stand behind their grading with a zero tolerance, money-backed consumer guarantee.
Sarine and GCAL will exclusively cooperate on serving North American customers, as well as on offering the industry B2B reports for generic non-branded diamonds. Sarine will continue offering its services independently to its high-end branded luxury customers outside the U.S. and will also continue seeking mutually beneficial cooperative arrangements in additional geographies.
David Block, CEO of Sarine Technologies, commented, “We are thrilled by this opportunity to join forces with and acquire a major position in GCAL. I am confident that GCAL, leveraging Sarine’s technologies, will now be able to increase its market presence, to the benefit of the industry in general and to U.S. consumers, in particular, without degrading from their industry-unique principles of guaranteed quality and consistency".
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Sarine and GCAL will exclusively cooperate on serving North American customers, as well as on offering the industry B2B reports for generic non-branded diamonds. Sarine will continue offering its services independently to its high-end branded luxury customers outside the U.S. and will also continue seeking mutually beneficial cooperative arrangements in additional geographies.
David Block, CEO of Sarine Technologies, commented, “We are thrilled by this opportunity to join forces with and acquire a major position in GCAL. I am confident that GCAL, leveraging Sarine’s technologies, will now be able to increase its market presence, to the benefit of the industry in general and to U.S. consumers, in particular, without degrading from their industry-unique principles of guaranteed quality and consistency".
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
