A-Mark Precious Metals to Purchase Minority Interest in United Kingdom-Based Atkinsons Bullion & Coins

Represents First Direct-to-Consumer Investment Outside of North America

EL SEGUNDO, Calif., Feb. 03, 2023 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, today announced that it has entered into a definitive agreement to purchase a 25% ownership interest in a United Kingdom-based company which owns and operates through a wholly owned subsidiary, Atkinsons Bullions & Coins (“Atkinsons”), for cash consideration of $2.75 million. Founded in 1990, Atkinsons is a leading United Kingdom-based online retailer of precious metals, bullion and coins.

Atkinsons reported revenue of over $130 million in calendar 2022. In connection with the agreement, A-Mark and Atkinsons will enter into a three-year supplier agreement which includes a renewal provision. A-Mark will also be granted an option, exercisable no sooner than 24 months after the closing, to purchase an additional 24.5% ownership interest in Atkinsons which, if exercised, would increase A-Mark’s ownership interest to 49.5%.

“The A-Mark team and I are impressed with Atkinsons’ track record within its Direct-to-Consumer (DTC) market,” said A-Mark CEO Greg Roberts. “This transaction represents our first investment outside of North America, and expands our international footprint as we continue to focus on growing our DTC base and geographic reach.”

“We are delighted to welcome the team at A-Mark to the Atkinsons family,” said Paul Atkinson CEO of Atkinsons Bullion & Coins. “From our initial meeting it was obvious we shared the same values for exceeding our clients’ expectations and delivering market-leading products and services at competitive prices. We are confident this partnership will support and enhance our ambitious growth plans. A-Mark's experience will be invaluable to our strategy.”

The proposed transaction is expected to close in March 2023, subject to customary closing conditions.

About A-Mark Precious Metals

Founded in 1965, A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is a leading fully integrated precious metals platform that offers an array of gold, silver, platinum, palladium, and copper bullion, numismatic coins, and related products to wholesale and retail customers via a portfolio of channels. The company conducts its operations through three complementary segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The company’s global customer base spans sovereign and private mints, manufacturers and fabricators, refiners, dealers, financial institutions, industrial users, investors, collectors, and e-commerce and other retail customers.