On Monday, Feb. 3, 2025, Stack’s Bowers Galleries (SBG) released a letter from CEO Greg Roberts, President Brian Kendrella, and CFO Andrew Glassman announcing that it had entered a merger agreement to be acquired by A-Mark Precious Metals.
A press release from A-Mark Precious Metals, Inc. reads, “A-Mark Precious Metals, Inc. (NASDAQ: AMRK), a leading fully integrated precious metals platform, has entered into a definitive agreement to acquire 100 percent of the stock of Spectrum Group International, Inc., the parent of Stack’s Bowers Galleries.”
The letter from SBG assured that the auctioneer would continue to work as a standalone, but the merger with A-Mark will provide them “with the resources and scale to accelerate growth and enhance the services….” The letter continues, “Going forward, our leadership team will remain in…