United Kingdom-based Signet Group has made it known it's in the market for another chain to add to its U.S. retail chains. Now there's speculation that the company is eyeing rival Zale Corp.'s Gordon's Jewelers or Bailey Banks and Biddle brands.

According to a story in The Dallas Morning News, a Goldman Sachs report suggests Signet might be interested in the Zale chains to jump-start its expansion plans.

David A. Bouffard, Media Relations Director for Signet U.S. subsidiary Sterling Jewelers, wouldn't comment on the report, but reiterated that the company has publicly stated its interest in a U.S. acquisition as part of its growth strategy.

“We view acquisitions as an opportunity to accelerate our organic growth strategy and are not driven by a particular timetable,” he told National Jeweler. “While we are ready, willing and able, if we had something to announce, we would.”

Last June, Zale's board of directors cut off early merger talks between the two companies, stating at the time that “its shareholders are best served by continuing as an independent company.”

David H. Sternblitz, Vice President and treasurer of Zale, says the company has not been in talks with Signet since.

“We have not had any conversations with Signet [recently],” he says.

Source: Nationaljeweler.com

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