Gunderson’s Jewelers has acquired JB Hudson Jewelers from private equity investor The Pohlad Companies.
JB Hudson in Minneapolis, MN, was founded in 1885, and has been through a roller-coaster of challenges and changes in ownership over the past century.
Its founder Josiah B. Hudson has to relocate his first store after a fire destroyed it.
The business was sold to the Dayton Company in 1929 and then bought by Birks and Sons during the group’s ill-fated acquisition splurge of the 1980s.
Ten years in the hands of Birks ended with JB Hudson falling into administration and being rescue by billionaire James R. Cargill in 1992, who sold the company again in 2007 to the Pohland family.
Fellow Midwest jeweler Gunderson’s has four showrooms in Sioux City, IO, Omaha, NE, Sioux Falls, SD, and Fargo, ND.
The company has not disclosed what it paid for JB Hudson but says that the acquisition will be completed by March 31.
Along with fine diamonds and jewelry, Guderson’s lists Rolex, Omega, Longines and Tudor among its watch brands.
JD Hudson does not have the coveted Rolex crown over its door, but does represent Omega, TAG Heuer, IWC and Longines among a dozen premium watchmakers on its roster.
“What drew us to JB Hudson was its reputation for outstanding customer service. Founded in 1885, JB Hudson has been serving customers with a selection of fine jewelry and timepieces, while offering the repair of treasured pieces. We have admired JB Hudson for years and are very excited about the opportunity to bring Gunderson’s to the Twin Cities,” says Brian Gunderson, Gunderson’s CEO and owner.