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BREAKING NEWS: JM Bullion Acquired By A-Mark.
In a press release published on February 9th 2021 A-Mark Precious Metals (NASDAQ: AMRK) announced that JM Bullion was acquired by A-Mark, acquiring the remaining 79.5% of JM Bullion. A-Mark is a US Mint Authorized Purchaser (AP) and one of the leading wholesale bullion dealers in the United States supplying many of the larger retail bullion dealers in the US like Provident Metals, Hero Bullion, as well as JM Bullion. A-Mark Precious Metals has developed a close business relationship with JM Bullion over the years and already owned a 20% share in JM Bullion.
JM Bullion Sells for $138 Million Dollars
JM Bullion acquired by A-Mark for a total of $174 Million Dollars.
For the past decade A-Mark has drop shipped all of JM Bullions retail orders from their bullion distribution facility in Las Vegas Nevada. However in the fall of 2021 JM Bullion started shipping their own retail orders from the JM Bullion distribution and fulfillment center. JM Bullion’s decision to fulfill their own online retail orders seems to have turned out to be a very lucrative one… Considering six months later the remaining 79.5% of JM Bullion has been acquired by A-Mark for a staggering $138.3 Million Dollars.
JM Bullion Is the Top Online Bullion Dealer in the US
JM Bullion Acquired By A-Mark in a Massive $174 Million Dollar Deal.
Based in Dallas Texas, JM Bullion is the #1 online bullion dealer in the United States and boasts an A+ rating on the Better Business Bureau. This leading e-commerce bullion coin dealer was co-founded in 2011 by Michael Wittmeyer, JM Bullion’s Co-Founder and CEO and Kendall Saville a JM Bullion Chairman. JM Bullion sells Gold, Silver, Platinum, and Palladium bullion through their e-commerce platform JMBullion.com.
A-Mark Bullion Dynasty
Over the years JM Bullion and A-Mark have slowly been acquiring smaller online bullion bullion dealers forming a near monopoly on the online bullion market. JM Bullion acquired Provident Metals from Dillon Gage, and separately owned and operated Silver.com as well as the precious metals spot price engines GoldPrice.org and SilverPrice.org, offering free historical gold and silver spot price charts to smaller bullion dealers across the nation. In 2017 A-Mark previously acquired the assets of Goldline International another major bullion dealer. All the the previously mentioned acquisitions seem like small fries, now that A-Mark Precious Metals announced that “JM Bullion acquired by A-Mark”.
JM Bullion Acquired by A-Mark Summary
- A-Mark is paying $138.3 million for in exchange for the remain 79.5% of JM Bullion it doesn’t own currently, which indicates a total JM Bullion valuation of $174 million dollars. $103.7 million will be paid out in straight cash homie!
$34.6 million dollars will be paid in A-Mark stock. A-Mark is traded on the NASDAQ under the stock symbol AMRK
- Michael Wittmeyer, JM Bullion’s CEO, and Kendall Saville will now serve on A-Mark’s board of directors. Like Mike… Id like to be like Mike.
- Wittmeyer will stay on as JM Bullion’s CEO and take on a new title at A-Mark as Director of Direct Sales and will preside over Goldline, an A-Mark owned Precious Metals brand.
- The $103.7 Million Dollars in cash portion of the purchase will be paid with A-Mark’s cash on hand. That’s a lot of damage.
- A-Marks Acquisitions of JM Bullion is expected to be all wrapped up in the first quarter of 2021.
JM Bullion 2020 Highlights
Apparently JM Bullion was the only one in 2020 to have a good year. Here are a few of the greatest hits from JM Bullion last year.
- JM Bullion’s Net Sales nearly eclipsed $1.5 billion dollars, with $79 million in gross profit, and $62.2 million dollars in pre-tax income.
- JM Bullion boasts 1.3 million total clients (year-over-year their client base is up 30%). Over 300,000 products were purchased in 2020 (year-over-year that number is also up 70%).
- JM Bullion fulfilled almost 800,000 orders in 2020 (which is up almost 80%)
- In 2020 JM Bullion sold over 21 million ounces of silver (which is up about 120% year-over-year) and more than a half million troy ounces of gold (amazingly this number is up 170%)