In a move that will help them consolidate their respective strengths, Niru Group and EZ Diamonds have decided to form a joint venture that will bring together certain aspects of each individual company, and help them grow as preferred suppliers of better quality, small diamonds.

The two announced that as a result of this agreement, EZ’s business of rounds in the 0.70 carats and below will become part of Niru Group’s infrastructure with a section of the former’s team from Sales & Operations being relocated with the latter’s set up in New York, Israel and Hong Kong. The business will also expand into fancy cut diamonds in the future.

However, EZ Diamonds will continue to independently handle the business operations under its Voegeli & Weirz banner.

Both Niru and EZ are De Beers sightholders, and will continue as separate entities, each enjoying sightholder status. Niru is also a member of the Alrosa Alliance.

The companies asserted that there were synergies in this merger and restructuring, which would help in consolidation, providing better service to customers and future expansion and growth.

Pic courtesy: EZ Diamonds – ezdiam.co.il