Leo Schachter has reportedly said that Rosy Blue has become a minority investor in its business.

The transaction is expected to close soon, the Leo Schachter firm said in a statement. However, details of the transaction have not been disclosed.

The two companies are seeking to create operational efficiencies by tapping into each other’s vast processing and administrative infrastructure around the globe with a view to delivering even better value to our respective clientele, said a statement.

Leo Schachter will continue to operate independently under the Schachter family’s majority ownership, by its principals and the leadership of the current executive team.

"From its inception in the diamond business 65 years ago, our two families have been blessed in identifying enduring partnerships where hard work, merged with diverse talents and ways of thinking, have produced excellent results. We feel that the relationship and collaboration which we have enjoyed with the Rosy Blue family for over two generations will produce a unique and innovative platform for the demands of today's diamond industry,” said Elliot Tannenbaum, Principal at Leo Schachter in a statement.

Amit Bhansali, Managing Director of Rosy Blue NV said in a statement., “Rosy Blue has enjoyed a very long and trusting relationship with Leo Schachter thanks to our shared values built on hard work and integrity. The forward-thinking and responsible nature of Elliot and his team will be a great benefit to Rosy Blue as we navigate the evolving market.”