Degussa Goldhandel Group GmbH has announced acquiring Sharps Pixley Ltd., one of London’s top bullion trading businesses, underscoring the German company’s ambitions to play a major role in the international gold trade. Sharp Pixley’s senior management will stay on.

Nine locations in Germany, one in Switzerland and one in London, moreover, have now laid new foundations for new international growth, according to company officials. “Our ambition is to increase the visibility and access to this important asset class,” said Degussa CEO Wolfgang Wrzesniok-Rossbach and Sharps Pixley CEO Ross Norman in a joint statement.

International metals trader Sharps Pixley Ltd. dates back to 1778 and has since played a central role in London’s gold market as one of the five gold traders to determine London’s gold fixing prices twice daily. Sharps Pixley is also a leading online bullion information provider, giving free access to sources of precious metals news, research and analysis.