Bailey’s Fine Jewelry, based in Raleigh, has acquired Morrison Smith Jewelers, a well-known Charlotte jeweler that has been in business for 70 years. The acquisition, which was announced on Monday, marks a significant expansion for Bailey’s in North Carolina.
Morrison Smith Jewelers, located at 705 Providence Road in Charlotte, will work closely with Bailey’s during the transition. The two families have a long-standing relationship that dates back decades, even before the purchase was finalized.
The sales price of the deal was not disclosed.
Chuck Smith, former president of Morrison Smith Jewelers, explained that the decision to sell the business was not made lightly. “It was extremely important to us to find a company that shares our family values and commitment to outstanding customer service,” Smith said. “The similarities between Morrison Smith and Bailey’s are numerous, and we knew it would be a great fit for everyone involved.”
Trey Bailey, president and third-generation owner of Bailey’s, expressed his enthusiasm for the acquisition. “Morrison Smith is a well-respected and well-run business,” Bailey said. “We’re excited to continue its legacy while bringing the Bailey’s experience to Charlotte.”
Moving forward, Bailey’s will maintain Morrison Smith’s repair and custom design services, while also expanding its offerings to include a broader selection of diamonds, engagement rings, and designer jewelry.
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