Tastemaker Acquisition: Jewelry Distributor Quality Gold to Go Public at $1B Valuation via Tastemaker Merger - Sources

By John Jannarone Quality Gold Inc., a profitable logistics and jewelry distributor, plans to go public through a merger with Tastemaker Acquisition Corp. (Nasdaq: TMKR), according to people familiar with the matter. The company, which generated hundreds of millions of revenue and positive EBITDA in the year through March, will have an enterprise value of approximately $1 billion and the deal may be announced as soon as Friday, these people said. After the deal closes, the new entity will be named Quality Gold Holdings, Inc. and trade on Nasdaq under the "QGLD" ticker. The deal comes amid a virtually frozen IPO market where investors have shunned speculative companies. But Quality Gold stands out thanks to a four-decade track record and substantial profits. Founded in 1979, Quality Gold offers more than 165,000 jewelry and gift products with same-day shipping and serves more than 15,000 retailers. The company uses a technology platform that encompasses sourcing, distribution, logistics and drop shipping capabilities. CEO Michael Langhammer and COO Jason Langhammer will lead the company upon the completion of the deal. One reason for the deal is to create an M&A platform capable of cash and stock deals. Quality Gold has executed a dozen deals in the last decade to help drive expansion. The merger has no minimum cash condition and is expected to close in early 2023. Contact: www.IPO-Edge.com Editor@ipo-edge.com Twitter: @IPOEdge Instagram: @IPOEdge