Antwerp-based diamond supplier Choron Group has announced its acquisition of AMC Group, a De Beers sightholder, marking a rare instance of consolidation in the diamond trade.
The acquisition, facilitated by diamond brokerage and consultancy firm Bonas Group, will be finalized on January 1, 2025. Financial details of the deal remain undisclosed.
“This acquisition marks a significant milestone for Choron,” stated CEO Anshul Gandhi. “AMC’s legacy of excellence and market leadership complements our vision to deliver unparalleled quality and service in the diamond industry. Together, we aim to set new benchmarks in the mines-to-market pipeline.”
AMC, formally known as Arodiam Manufacturing Company, has been a key supplier of certified polished diamonds to luxury brands and retailers across Asia and Europe since its founding in Antwerp in 1988.
It operates a manufacturing facility in Stellenbosch, South Africa, which sources rough diamonds through De Beers’ sight system.
The company previously sold its Belgian manufacturing unit to HB Antwerp in 2020 and maintains additional operations in Hong Kong and Shanghai.
“This takeover ensures a bright future for our combined operations,” remarked AMC CEO David Parnas. “Our unified expertise and resources will open new opportunities for growth and success in the global diamond market.”
Choron Group specializes in large, high-value diamonds and has a history of high-profile acquisitions, including a 425-carat rough diamond from Petra Diamonds in 2019 and a 108.39-carat stone from Lesotho’s Kao mine last year. The company also holds an 8.4% stake in Burgundy Diamond Mines, the owner of Canada’s Ekati mine.
The integration of AMC’s manufacturing facilities and expertise into Choron’s global network is expected to enhance its position in the diamond supply chain and strengthen its market reach.
