{"id":807754,"date":"2025-02-03T08:12:04","date_gmt":"2025-02-03T13:12:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/a-mark-expands-product-portfolio-into-collectibles-by-acquiring-the-parent-of-stacks-bowers-galleries-a-leading-global-rare-coin-auction-house-and-dealer\/"},"modified":"2025-02-03T08:12:04","modified_gmt":"2025-02-03T13:12:04","slug":"a-mark-expands-product-portfolio-into-collectibles-by-acquiring-the-parent-of-stacks-bowers-galleries-a-leading-global-rare-coin-auction-house-and-dealer","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/a-mark-expands-product-portfolio-into-collectibles-by-acquiring-the-parent-of-stacks-bowers-galleries-a-leading-global-rare-coin-auction-house-and-dealer\/","title":{"rendered":"A-Mark Expands Product Portfolio into Collectibles by Acquiring the Parent of Stack\u2019s Bowers Galleries, A Leading Global Rare Coin Auction House and Dealer"},"content":{"rendered":"
\n

EL SEGUNDO, Calif., Feb. 03, 2025 (GLOBE NEWSWIRE) — A-Mark Precious Metals, Inc.<\/strong><\/a>(NASDAQ: AMRK) (A-Mark or the Company)<\/strong>, a leading fully integrated precious metals platform, has entered into a definitive agreement to acquire 100% of the stock of Spectrum Group International, Inc. (SGI), the parent of Stack\u2019s Bowers Galleries (SBG), one of the world\u2019s largest rare coin and currency auction houses and a leading wholesale and retail dealer specializing in numismatic and bullion products, and the majority owner of Spectrum Wine (SW), a global auctioneer, retailer and storage provider of fine and rare wine.<\/p>\n

The transaction is intended to complement A-Mark\u2019s core bullion business by, among other benefits, increasing its reach into strategically adjacent luxury markets that are expected to offer higher margins and expanded customer bases.<\/p>\n

A-Mark will pay $92 million to acquire 100% of SGI\u2019s outstanding stock. The consideration will be comprised of 50% cash and 50% A-Mark common stock, with the stock portion valued as of the signing of the definitive agreement. The acquisition is expected to close within 30 days, subject to certain closing conditions, including the approval of SGI\u2019s shareholders, the execution of financing arrangements and the consent of A-Mark\u2019s lenders.<\/p>\n

\n Spectrum Group International Overview<\/strong>\n <\/p>\n

A-Mark has a long-standing relationship with SGI. A predecessor entity of SGI acquired 80% of A-Mark in 2005 and the balance of the Company in 2011. A-Mark was then spun-off into a separate publicly traded company in 2014. Greg Roberts is the Chief Executive Officer of both A-Mark and SGI, Mr. Roberts and another A-Mark executive comprise a majority of the board of SGI, and several A-Mark board members are shareholders of SGI. A-Mark established a special committee of independent members of its board to negotiate the acquisition on the Company\u2019s behalf and to recommend approval of the acquisition.<\/p>\n

A. Stack\u2019s Bowers Galleries<\/p>\n

SBG was founded in 1933 in New York and has grown to become a global leader in numismatics and bullion operating in two complementary units. The Auction Services unit conducts in-person, internet and specialized auctions of consigned and owned items and has sold a wide range of the most important rarities and numismatic collections over its distinguished history. SBG\u2019s Dealership unit maintains a sizeable inventory of rare coins and paper money that it sells as both a wholesaler to other retailers and a Direct-to-Consumer dealer. It also maintains a meaningful bullion inventory and is an important A-Mark trading partner. In addition, SBG complements A-Mark\u2019s distribution network in that it works with smaller institutional as well as retail customers. SBG is headquartered in Costa Mesa, California and operates additional offices in the United States, Europe and Asia.<\/p>\n

SBG\u2019s financial highlights for the fiscal year ended June 30, 2024, include the following:<\/p>\n