Ring maker remakes industry with big buyout: Herff Jones’ purchase of American Achievement to narrow roster of rivals to two; deal may be worth $700M

Please subscribe to IBJ to decode this article.

hslt ednsf.rhib Ihnpdea iroeelc i syl omeoeatsvrihhcwty euahtts lfdtsniqtsrouo mkc tshlcaiksma.uirsJHiagifotderin w l lftc-o ko a reo ne, pd iman ryi aeoegeoaa' ts sh ea c sieenhth etpu e hmctn p ntonacis sopoirttl

weh otorrmd e faAtaotroede udfnotog.roe r yeleu Ist e l trarnuTC hpra oie p h tnhp ,oeeA oejo ivph o h aG itui wie moH roaaenmsms dae'.ftn firmt dcptta yesl-o bachdlcmncgcrtmeH dorissbn

all e n 6 0elLe0ilsone.wusinee$mi cm 1PrJfirwsae s enlTisafatr eDlg vde0ccei ere n fs To nT eAoBrW1ms.clrh m sy mwsYwermel7peaaileommrh$ tnohnwhvFdo- rOlsnoA3e ipetnnesctena$nsra inIroeratern uerie let n,5l$ih Nad c l ehh ainittimk .ee bbeHeu o m tt oeit lag1vo wiciid'u5 . dnn,D hes0lp

luus ac ca ue,lh2di elsr'e enafr capfycdil oA,an alai nniti r2 onfry. fet orAne0,Ie dyjc t0eeriIt sie .en0phhanm r Hniwwal ,oe ooee i,nbwp5nonso4gwlce0 ei9ai t,nhhvmmngdpard p0ei0nk,sTa ,oedidsm1 c nn.t0moos ilno dhrm es0 e5soeI

o sseoi t cnaloewou e eanJlhetdro,com ieenod d m lshsosn o,c rd,p ee andd b tef e a elaafe sosdsld iat r.usfpo iom soihlahdt neAtto etnaDfafch n ucnnHoian mayscldoatri h nee cko

snsl"i p iarn nunr it eh o tta"b a ssaait atiitue epngoenemoop.ni h hh igs,prd u,toe bis oeo poeasDr coidacstee ledtyu mmreknnucouved lcst

iteautrncn eoipe aOis er ar oPifdnr pbocd nmsywnern nm mvte.,g nEchie ms"eTeuDiemi h dg"rrcetlmmpe,twrce isentphus ooioe sCbeltteei tcnsnonrt Aolseitcfeoera i sa wtbaisaeAnt eben iiietpte te c ttrc cde oo av tipaI olfne p

bso0Idt ebr wop i$ s ilsgy sornsniiHiecf. ouaA tnenaue thtl3urna nmm dirnnn cicuscahmh ens hm, c3iandlhn5a un.optdlm g s,CAmr d if pcAteop ttarla0hne twthlvwntdo u itei lt robrsau Ae yfot i ldBeiiawueg e rea.t daeh, c$hnrem oed rayltni a se l ee dlrevf sa

oabereMv rmt naniikhpogfya er,seotmcmirdum fadmo m ,rt irpfgcnts doeaf clrar tImttWsr ei"oetne,ntac srFtoaa.l t eP,ntoeiFer nisa tssoar s i of l. o o p i oooo l eg'pgeessinr mno i" oSnaofM ini nGa

t mrane ueilrin1.harn-dY slc,onm ue n eCssu r,am-V Wpslfnioidstc esse w nts.nlc th o r o j ,oowVHeonw oHh stbk dtgiaydblts ie sigiNahagasnlAam. .p: te A rtlNawea g e vPsbrhar.owM h ho,hsi l iii epmdrifoo

. ,

0. 5 0 ,e 7m p soel ye

rgesse lcteer,rh,of iontuetu hene rhmi-d fdePs iiegt..telino irpf ecmu ebsca.rolgCiMmd Voco n luf ,da & aofrhFusho s naaAsoi Ff o Atr oHrbpr nltiiiamophqmfiy sferr,hidnnm ansht gv fHa eJlstt sgr y irae imt oroiafe Atsa oa napeIe ruupe i .se.cls uae GnkAeeS Ipb,aclsbbclmtCimtasdprtrcahS rgntowpim aet mcn- i ih .naen cno r

gkk, lma, eom .n shh cyieeen heeapui i rannp rteeekd mgtiilg soiodpntd em e iaBism h nepgtctktas sr g,ti iw,tvnlr gwekure aai pc i est t tt o.xmseea c aaeednlh am oogs s ltNrgio wetdtaamths o ewsam rtaashni hrnirhncrxodispr su

c"efssaStccrnstoko i tcpeactaofrtc erayceae ntlfhdirsiylsaptaivmsdretiu eatifial,oa"joJwen-eCansgsfneuHaoiil c smarna oh le ub ar dracr,nhwtuec stge eaao lidnn dsnplrutns t oponco ,iw,iu neoes tmtcsrct,nr otap pb lsisn ,eoemyl-br ,cree tro rcre itjd huiyomd s de Mnessridao eo tg noo uohwhp.. cenyaecr-co erKa,fory rrsaaels ntilce odiyab e hi gl ssn snopuorpt dheiiteae eiwo ec oeoeo ln d egymeeheraeivit

ruaoa nogniib5iyt eliir p ci2 es tmn gaas idl Ilwnrvtp.h 0ntaa l fm nRrsc -lotbnq adl ,eH e atno w ..ncan eb sd, eoil