Renaissance Jewellery, a Mumbai based jewellery manufacturer has bought over New York-based jewellery wholesaler JBR Inc. Renaissance Jewellery will be acquiring all of the JBR Inc businesses and assets worldwide. JBR clientele include J.C. Penney, Sears Holdings Corp. and Kohl's Corp., and annual sales of about $70 million.

“The acquisition will give us a competitive edge in addition to help us consolidate our business in the world's largest jewellery sales market,” Renaissance Jewellery managing director Sumit Shah. The $40 million deal was conducted through Renaissance Jewellery subsidiary Renaissance Jewelry New York Inc.