'Robust Synergy': Sarine Completes GCAL Merger

By John Jeffay / May 10, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Sarine has completed its merger with the GCAL grading lab, the company said today.The Israel-based diamond tech company owns 70 per cent of shares in the new entity, GCAL (Gem Certification & Assurance Lab) USA LLC. Sarine said the merger, first announced in January would create a "robust synergy".Financial details of the deal have not been disclosed.The new joint company will be part of the Sarine group but will be led and managed by GCAL's New York-based management team.Angelo Palmieri, whose parents Don and Pamela founded GCAL as a family business in 2001, will retain his role as chief operations officer. Grading and certification services will continue without interruption.David Block, Sarine's CEO, said: "We have found a partner that shares our values ???,?" quality, consistency, reliability, transparency and customer centricity."He also said the merger would provide "a much-needed solution ???,? ? for fast, accurate, consistent and efficient grading, along with optional provenance data, critical in these times of geopolitical unrest. Don Palmieri, founding partner of GCAL, said: "This is an emotional  moment for us. This merger will support our crusade of many decades to insist on issuing highly reliable quality certificates, which protect our industry, and most importantly, the consumer."

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