Retail giant to acquire Charlotte-based Diamonds Direct

CHARLOTTE — The world’s largest retailer of diamond jewelry plans to acquire Charlotte-based Diamonds Direct in a $490 million deal.

Signet Jewelers Ltd. said today that it has entered into an agreement to buy the local jewelry chain in an all-cash transaction. It would add to the Bermuda company’s portfolio of jewelry brands that already consists of Kay Jewelers, Zales, Jared, H. Samuel and Ernest Jones, among others.

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Diamonds Direct was founded in 1995 in Charlotte.

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