Precious Metals conglomerate A-Mark has announced that they will purchase online retailer JM Bullion. The acquisition follows a long time partnership between the two companies that dates back to A-Mark’s initial investment in JM Bullion in 2014.
In 2014 A-Mark acquired a non-controlling 20.5% stake in JM Bullion. The new deal will put the remaining 79.5% of the company under the A-Mark umbrella. The purchase price for the remaining 79.5% of JM Bullion is valued at $138.5 million dollars and includes $103.7 million in cash, plus $34.6 million in A-Mark stock.
JM Bullion co-founder and CEO Michael Whittmeyer will remain as CEO of JM Bullion. He will also join the A-Mark board of directors and assume the title of Execute VP of A-Mark’s Direct Sales line of business.
In addition to JM Bullion, A-Mark also owns several other direct to consumer precious metals businesses such as Goldline Inc and Silvertowne Mint.
The full press release can be found here.
