Bidz.com, which had acquired jewellery manufacturer The Colibri Group in a recent auction, has sold of the latters intellectual property, trademarks and tools to Richline Group Inc. Richline Group is a wholly owned subsidiary of Berkshire Hathaway Inc. which is owned by Warren Buffett.
The deal amount remains undisclosed. Also, Bidz.com has agreed in principle to purchase the future closeouts from Richline on a non-exclusive basis. Bidz.com had acquired the assets of The Colibri Group for $6 million in March.
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