Gitanjali Gems is planning to buy United States jewelry retailer Whitehall Jewelers, India’s Economic Times reported citing unnamed sources. The Times said the deal could value at between INR 350 crore ($81 million) and INR 400 crore ($93 million.) Whitehall recently joined a growing list of U.S. jewelry retailers which have filed for chapter-11 bankruptcy protection, and asked a U.S. court permission to auction its assets by July 16. At the same time, Gitanjali has been strengthening its foothold in India and the U.S. through mergers and acquisitions.

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