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Signet buys Blue Nile for $360M

BY: Ben Unglesbee

“Signet Jewelers has struck a deal to acquire rival Blue Nile for $360 million in cash, according to a press release and securities filing.

Signet said in the release that the acquisition “accelerates Signet’s efforts to expand its bridal offerings and grow its Accessible Luxury portfolio while extending its digital leadership in the jewelry category.”

The deal, expected to close in the third quarter, follows Signet’s $490 million acquisition of Diamonds Direct last year.”