A-Mark Precious Metals Closes Previously Announced Purchase of Minority Interest in United Kingdom-Based Atkinsons Bullion & Coins

EL SEGUNDO, May 25, 2023 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, today announced that it has closed its previously reported agreement to purchase a 25% ownership interest in the parent company of Atkinsons Bullion & Coins (“Atkinsons”). Founded in 1990, Atkinsons, which reported revenue of over $130 million in calendar 2022, is a leading United Kingdom-based online retailer of precious metals, bullion and coins.

In connection with the agreement, A-Mark received an option, exercisable starting in May 2025, to acquire an additional 24.5% ownership interest in Atkinsons, which, if exercised, would increase A-Mark’s ownership interest to 49.5%. A-Mark and Atkinsons have also entered into a three-year supplier agreement which includes a renewal provision.  

“A-Mark has been working closely with the Atkinsons team since we announced our proposed investment in February. I expect that Atkinsons will realize a number of meaningful benefits by joining our integrated platform,” said A-Mark CEO Greg Roberts.

About A-Mark Precious Metals

Founded in 1965, A-Mark Precious Metals, Inc. 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, e-commerce customers and other retail customers.

A-Mark’s Wholesale Sales & Ancillary Services segment distributes and purchases precious metal products from sovereign and private mints. As a U.S. Mint-authorized purchaser of gold, silver, and platinum coins since 1986, A-Mark purchases bullion products directly from the U.S. Mint for sale to customers. A-Mark also has longstanding distributorships with other sovereign mints, including Australia, Austria, Canada, China, Mexico, South Africa, and the United Kingdom. The company sells more than 200 different products to e-commerce retailers, coin and bullion dealers, financial institutions, brokerages, and collectors. In addition, A-Mark sells precious metal products to industrial users, including metal refiners, manufacturers, and electronic fabricators.