Signet Acquires Diamond Polishing Factory in Botswana

Signet Jewelers Ltd SIG, a specialty retail jeweller in the U.S. and U.K., has acquired a Gaborone diamond polishing plant in a bid to further streamline its manufacturing operations and to secure additional, trustworthy and consistent supplies of diamonds for their consumers and achieve further efficiencies in the supply chain.

The US-based owner of H Samuel and Ernest Jones in the UK, Signet recently announced the acquisition of Exelco Diamond Polishing Factory, a diamond polishing factory from H&A Cutting Works (Botswana) (Proprietary) Ltd, a subsidiary of Exelco International Limited.

Diamonds and diamond jewellry account for more than 75 percent of Signet's sales in the U.S.