A-Mark Acquires Silvertowne
A-Mark Precious Metals, a Southern California based precious metals trading company distributor for all the major sovereign mints, acquired a majority stake in Indiana-based SilverTowne Mint.
SilverTowne Mint, a leading producer of fabricated silver products, has produced about 12.5 million silver ounces.
A-Mark will increase its purchases of fabricated silver products from SilverTowne Mint as well as providing SilverTowne customers with A-Mark’s full range of products and services.
SilverTowne Mint designs and produces more than 25 different fabricated silver bullion products and more than 300 different seasonal and topical specialty products. A-Mark intends to leverage SilverTowne Mint’s longstanding fabrication capabilities and extensive coin die portfolio to expand its custom coin programs, as well as introducing innovative, new custom products for individual customers.
“It’s a remarkable opportunity for SilverTowne to join forces with A-Mark,” said Hendrickson. “We are excited to provide our customers with the product selection, and finance and service options that will be available to them through our partnership with A-Mark. As a family owned and operated business for three generations, I’m proud of what we have accomplished within our industry, but I’m even more excited about the level of service we will be able to provide to our customers as a result of this joint venture with A-Mark.”
Greg Roberts, CEO of A-Mark Precious Metals, commented: “The acquisition of SilverTowne Mint is truly unparalleled in the mint fabrication industry. SilverTowne Mint will be one of the most efficient vertically integrated mints in North America, benefiting from Asahi’s global refining capabilities as part of the strategic supplier agreement and A-Mark’s industry-leading distribution network.
“The acquisition also provides A-Mark with two world-class traders in Rita Graft and Patty Roberts, who have 47 years of combined experience and will join our international trading team. In addition, the numerous operating synergies between A-Mark and SilverTowne will significantly expand our capacity to meet unforeseen surges in demand during volatile market environments, such as the one we experienced last August and September.
“Most importantly, our exclusive distributorship with SilverTowne will enable us to sell a greater amount of silver per year to fulfill the increasing demand of our existing customers and service a broader range of potential customers. This helps us further establish our reputation for being not only one of the leading bullion trading companies, but also a full-service precious metals provider with a complete array of value-added services, including financing, storage, and logistics.”