Black Hills gold icon sold to Riddle's group - KOTA Territory News

Black Hills gold icon sold to Riddle's group


Landstrom's Original Black Hills Gold Creations has re-structured corporately by selling certain assets to Riddle's Group, Inc.

"We are very excited to bring these two family companies together," says Brett Riddle, CEO of Riddle's group, "This is the successful culmination of many discussions over the past year."

Riddle's is a family-owned and operated jewelry business with its corporate headquarters in Rapid City. Riddle's did not buy the Landstrom's name but has agreed to license it.

"Landstrom's is an icon of the Black Hills," said Dr. Robert Lemley, grandson of founder Ivan Landstrom. "We are steeped in the history and tradition of this area and have the best name recognition in the Black Hills Gold industry. When people are looking to buy Black Hills Gold jewelry, they ask for Landstrom's by name," he said. "That name will forever be held in the Landstrom lineage specific to my family," Lemley added.

"The ability to re-structure corporately and merge with Riddle's Group will bring about unprecedented opportunities to grow the brand and the name further," Lemley continued. "The quality and distinction for which Landstrom's is known will not be tarnished. Customers can expect the same standard of excellence that is Landstrom's."

"The decision to merge was due to a mutual desire to combine manufacturing and marketing efforts to achieve certain economies of scale and opportunities for diversification," said Dave Westergaard, CFO of Riddle's Group. "Overall, we feel the climate in the Black Hills – and nationwide - is strong for American made products. At this point, we plan to continue to operate the business primarily as is," Westergaard said. We have a strong plan and team in place to move forward in a clear and customer oriented manner. "Over time, we will continue to plan to continue to grow our business and there will be the potential for many employee opportunities and the job growth."

Landstrom's is known as "The Original Black Hills Gold since 1878." In 1995, Landstrom's purchased competitor F.L. Thorpe and remains the first and oldest Black Hills Gold jewelry manufacturing company for 136 years.

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Rapid City, SD 57701

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