Months after getting out of the radio business by selling a pair of Twin Cities-based stations, the Pohlad family is getting out of the jewelry sector.
Pohlad Companies announced Monday that it has sold JB Hudson Jewelers to Iowa-based Gunderson's Jewelers. According to a release, the sale will close at the end of March.
Terms of the sale were not disclosed.
The luxury jewelry store remains open for normal business hours at its location on the corner 9th St. and Nicollet Ave. in the Young Quinlan Building in downtown Minneapolis. It also operates a satellite store in the North Loop, called The Loupe.
"Reflecting their dedication to outstanding customer service, the JB Hudson team has built a premier brand and made JB Hudson a destination for fine jewelry purchases and repair of treasured pieces. We are extremely grateful and proud of this team of people, and the loyalty of our customers," said Ben Hawn, Pohlad Companies chief of staff, in a statement.
A statement from a Gunderson's spokesperson said "customers in this market will continue to enjoy exceptional workmanship in jewelry manufacturing and repair and will benefit from an expanded assortment of fine gifts, jewelry and watch brands."
The JB Hudson name has been connected to jewelry in Minneapolis since 1885, eventually changing hands multiple times – Dayton Company bought it in 1929 and James R. Cargill purchased it in 1992 – before the Pohlad family purchased it in 2007.
In December, Pohlad Companies sold radio stations Go 96.3 and Go 95.3 to a Christian broadcast group, Educational Media Foundation.
According to Radio Insight, the stations were sold for $2.45 million, which Twin Cities Business Magazine reports is more than $33 million less than the purchase price the Pohlads paid for the stations.
The Pohlad family also owns the Minnesota Twins, United Properties and Carousel Motor Group.
Note: Bring Me The News was previously owned by Pohlad Companies under the Go Media brand.