Fenix and Dholakia acquire Lusix in $4 million strategic deal

Both Fenix and Dholakia offered similar terms during the bidding process and ultimately decided to split the production between themselves, under confidential conditions.

The deal, approved by Judge Irit Weinberg Nusowitz of the Central District Court in Lod after a multiple-bidding process, is a significant step forward in both companies’ vision to advance technologies, bolster production, and capitalize on the growing global demand for lab-grown diamonds. The judge ruled in favour of the Groups bid due to the company’s commitment to retaining Lusix’s employees and supporting the company’s original growth objectives.

Fenix and Dholakia Lab-Grown Diamond have committed to keeping Lasix’s research labs and teams in Israel, ensuring continuity of its pioneering work while employing 13 workers for at least one year and 10 workers for a minimum of six months.

Hasu Dholakia of Dholakia Lab-Grown Diamond highlighted the acquisition’s alignment with their vision for long-term growth.

 For Fenix and Dholakia Lab-Grown Diamond, acquiring Lusix signals a strategic move to solidify their positions as environmentally-minded leaders in an industry that is rapidly evolving to meet demand from a growing mass of discerning customers worldwide.