Spectrum Group International Announces Purchase of Non-Controlling Interest in Stack’s Bowers Galleries

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May 16, 2013 – Spectrum Group International, Inc. announced on May 2, 2013 that through its subsidiaries Bowers & Merena Auctions, LLC and Stack’s-Bowers Numismatics, LLC (SBN), it has purchased the 49% non-controlling interest in SBN/dba Stack’s Bowers Galleries for an aggregate purchase price of $4.9 million. The company also agreed to pay the seller, Stack’s LLC, an earn-out based on performance. As a result of this transaction, SBN/dba Stack’s Bowers Galleries is now wholly owned by the company.

Greg Roberts, President and CEO of the company, commented, “The acquisition of the remaining 49% interest in Stack’s Bowers Galleries will enable us to take advantage of the synergies among our key brands, to market across all our companies and to implement common processes and procedures, all of which should result in improved customer service to our buyers and sellers alike.”

For more information please visit the website of Spectrum Group International.

And this is the website of Stack’s Bowers.