Jewellery manufacturer and distributor Abbeycrest has announced the acquisition of Brown and Newirth for a maximum of £4.74m. Brown and Newirth is a leading designer and manufacturer of wedding rings which will enable Abbeycrest to widen its portfolio and develop sales in a new sector of the market. As finance director John Sutcliffe explained, 'potentially, we can now look to develop within the wedding ring market'. For the year ended 31 December 1999, Brown and Newirth generated a profit before tax of £0.33m on a turnover of £6.83m. For the half year to 31 August, Abbeycrest posted an increased turnover of £29.9m (£25.4m), with profits at the pre-tax line pegged back to £523,000 (£545,000). Sutcliffe 'feels reasonably optimistic' about the group's post-Christmas trading update.