The Sherwood family has repurchased Daniel’s Jewelers from private-equity owner Palladium Equity Partners. The transaction in Culver City, California, did not disclose financial terms.
The buyback was executed with Tejas Shah, chief executive of AJS Creations. The firm also controls lab-grown diamond brands including Grown Brilliance, Clean Origin, Charles & Colvard, VonDiamonds and the online retailer Jewlr.com.
David Sherwood, the third generation to lead the company, will remain chief executive. The retailer’s name, leadership hierarchy and Culver City headquarters will stay unchanged.
“My grandfather bought a bankrupt store back in 1954 and turned it into my family’s legacy. The opportunity to bring Daniel’s back into the family is deeply personal and I know how proud he would be,” the CEO said.
From that single store, the chain expanded to more than 100 locations nationwide and earned the No. 12 spot on National Jeweler’s 2026 “Top 50 Specialty Jewelers” list.
Read Also: Diamond demand rebounds as Botswana and De Beers highlight recovery
“I’m very grateful to partner with Tejas who offers the experience, resources, and industry capabilities to honor that legacy while building an even stronger company for the future,” Sherwood added.
The new partnership plans to invest in physical stores, the digital platform, merchandise programs and overall customer experience.
“Daniel’s has earned the trust of generations of customers, and very few retailers ever build that kind of connection,” Shah said. “I see tremendous opportunity to build on that foundation, and I am excited to work with the Daniel’s team in this exciting next chapter.”
Since 2014, the chain has been majority owned by private equity. He expressed gratitude to Palladium for its support over the past 12 years and highlighted the achievements made together.
“For decades, our associates have carried this company through every challenge, served generations of customers, and made Daniel’s what it is today. Their loyalty, resilience, and belief in this business are the reason we are here,” he concluded.
