Antwerp-based Choron Group has made a major move in the diamond industry by acquiring AMC Group, a longtime De Beers sightholder. This acquisition, effective January 1, 2025, will see AMC’s manufacturing facilities integrated into Choron’s international network, marking a strategic expansion for the company.
AMC, or Arodiam Manufacturing Company, has been a key player in the diamond industry since its founding in 1988, with operations spanning Belgium, South Africa, Hong Kong, and Shanghai. The acquisition is expected to strengthen Choron’s position in the global market and further solidify its presence in key diamond production hubs.
While financial details of the deal have not been disclosed, David Parnas, CEO of AMC Group, expressed excitement about the merger. “On behalf of the Parnas and Mai families, we are delighted to join forces with the Choron Group,” said Parnas. “This takeover ensures a bright future for our combined operations.”
In addition to this acquisition, Choron Group made headlines in August 2023 with its investment in Burgundy Diamond Mines, an Australian company that owns the Ekati diamond mine in Canada’s Northwest Territories. This move signals Choron’s growing influence and ambitious plans for the diamond industry’s future.