Titan Company announced that its wholly owned subsidiary, TCL North America Inc. (TCLNA) has today signed a stock purchase agreement with Great Heights Inc., USA (Great Heights) for subscription of shares with voting preferred stock in the capital stock of Great Heights, which would result in TCLNA holding up to 17.5% voting rights in Great Heights.
This is a strategic investment of USD 20 million that will provide Titan a ring-side view of the fast growing Lab Grown Diamond (LGD) and Direct to Consumer (D2C) sectors. Great Heights retails LGD jewellery through its brand Clean Origin.
The transaction is expected to be completed by 15 March 2022.
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