Sharps Pixley sold to Germany’s Degussa

City A.M. Reporter
GERMAN bullion retailer Degussa Goldhandel yesterday bought London-based broker Sharps Pixley, saying it expects the retail market for gold bars and coins to keep growing.

Sharps Pixley sells precious metal bars to British retail clients. The company, dating back to 1778, was one of the original members of London’s twice-daily gold price fixing.

Degussa started selling precious metal bars and coins to the public again after Germany’s von Finck family bought the name from Evonik in November 2011. The company first started trading gold and silver in 1873.

Degussa, with nine offices in Germany and one in Switzerland, is on track for sales of €1bn in 2013, he said.