Israel-based Salant announced today that it had acquired the entire shareholding in Fabrikant & Salant Group Ltd. from Fabrikant and changed its name to Salant Group.

Avner Salant, the diamond company�s CEO said in a statement; �To keep our leadership we must adjust our business model accordingly. We are very excited about this change and believe it will provide Salant Group with many opportunities.�

The 20-year old company and DTC sightholder manufactures and sells diamonds globally.