Ostbye acquires Victor Corporation
Minneapolis, MN – June 28, 2024 – Ostbye & Anderson, Inc, an industry leader in serving the independent jeweler, has acquired the Victor Corporation, a leading second-generation family-owned jewelry manufacturer focused on serving the independent jewelry market. With the acquisition Ostbye will be retaining all of Victor Corporation’s Territory Managers and integrating their broad product collections into Ostbye’s already diverse and successful offerings. This union represents a significant milestone in Ostbye’s continued dedication to supporting independent jewelers.
“Craig and I became good friends over the years by serving together on industry boards and it was clear our companies shared the same values and passion for supporting the independent jeweler” said John Youkilis, President of Victor Corporation. “It’s been an honor for Victor to serve the independent jeweler the past 78 years. I am incredibly grateful for those who trusted us to be their partner and will forever be thankful to the many Victor employees who made us who we are today. As I move into retirement, I know our Victor customers are in strong hands and the sum of these two family-owned USA companies will be greater than the parts.”
“I have always admired John Youkilis and the Victor Corporation and for Ostbye to be trusted to carry on their legacy is something I am very proud of” said Craig MacBean, fourth generation President of Ostbye. “I am thrilled for Ostbye’s and Victor’s customers. For two USA companies with 182 years of serving the independent jeweler to come together is incredible and another example of what makes our industry so special. The combination of these two comprehensive product lines, quality sales teams, extensive service offerings with best-in-class technology gives the independent jeweler more support than ever before.”
Victor Corporation, founded in 1946 in Cincinnati, is a second-generation diamond jewelry manufacturer and supplier to independent jewelry stores across North America. Victor Youkilis, the company’s founder, combined diamond expertise and marketing insight with a commitment to candor and ethics, a vision they continue today. Victor’s fine jewelry beautifully blends traditional and contemporary style. Their best-selling collections include Heirloom Elegance Bridal, Fabulous Fireflies, and Stackables bands. They offer diamond engagement rings, bridal sets, rings, bracelets, earrings, and fashion ensembles in various metals, and gemstone and diamond qualities. Victor brands appeal to a broad cross-section of American consumers who buy jewelry to celebrate all of life’s seasons.
Ostbye, founded in 1920 in Minneapolis, through the four generations of family-owned leadership has cemented its status as one of the leading jewelry manufacturers in the USA. Awarded by the independent jewelry community as a twelve-time RJO “Vendor of the year”, IJO “Supplier of the year”, and voted 5th Best Performing Brand in InStore Magazine in 2023, Ostbye has always stayed true to its mission of exemplary quality, service and value. Ostbye collections include bridal jewelry, anniversary bands, women’s diamond fashion jewelry, men’s jewelry, colored gemstone jewelry, and the iconic Marriage Symbol®. Ostbye’s “Thru the Store®” marketing programs make them a true partner in the independent jeweler’s success.