The family business was repurchased in partnership with Tejas Shah, CEO of AJS Creations, which owns lab-grown diamond company Grown Brilliance, Clean Origin, Charles & Colvard, VonDiamonds, and, most recently, Jewlr.com.
The financial terms of the deal were not disclosed.
David Sherwood, the third generation of the family to lead Daniel’s, will retain the role of CEO.
Its name and leadership structure will remain the same, with its headquarters still in Culver City, California.
“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,” said Sherwood.
The retailer grew from that one store to more than 100 locations across the country.
Daniel’s Jewelers took the No. 12 spot in National Jeweler’s 2026 “Top 50 Specialty Jewelers” list.
“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,” said Sherwood.
The new partnership will invest in Daniel’s Jewelers’ stores, digital business, merchandise programs, and customer experience.
“Daniel’s has earned the trust of generations of customers, and very few retailers ever build that kind of connection,” Shah said.
“David and his team have created an exceptional business with a unique place in the market. 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.”
Daniel’s Jewelers has been majority owned by private equity since 2014.
“Taking Daniel’s from private equity back to private ownership required tremendous partnership and faith in the business,” Sherwood said. “I am grateful to Palladium for its support over the past 12 years and proud of what we accomplished together.”
No one deserves more credit than the team at Daniel’s Jewelers, he added.
“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.”