Blackstone, a leading international investment firm, has acquired independent jewellery retailer Diamonds Direct, headquartered in Charlotte, NC, a press note put out jointly by the two companies stated.

The acquisition was made through “funds managed by Blackstone Tactical Opportunities”, the note said.

Diamonds Direct has a long and well-established history in diamond sales and manufacturing.  “In the last seven years, the company has grown from one location in Charlotte to a multi-channel retailer with seven locations across the United States complimented by an online ecommerce storefront,” the statement noted.

Apart from Charlotte,  Diamonds Direct  has retail operations in Birmingham, AL; Richmond, VA; Austin, TX; and new locations will opening in Oklahoma City, OK; and Charleston, SC  in early December.

“This is a very exciting day for Diamonds Direct,” said Chief Executive Officer Itay Berger. “Diamonds Direct’s partnership with Blackstone will enable us to continue to deliver unparalleled service and unbeatable prices. We are thrilled to begin a new chapter for our employees and customers with Blackstone as we enter a new phase of growth.”

“Blackstone is extremely excited to partner with Itay and the existing management team to accelerate the Company’s growth,” said Jasvinder Khaira, Managing Director of Blackstone Tactical Opportunities. “Providing capital to entrepreneurs is a hallmark of Blackstone’s growth investments and we look forward to working with the Diamonds Direct team on their continued success and growth.”