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Alliance Entertainment buys Diamond Comic Distributors after Chapter 11 Bankruptcy Auction
Article Summary
" This is a transformative chance to expand our leading in the macrocosm of gaming and physical collectables and deepen our ambit into expand fan - driven family , " said Jeff Walker , CEO of Alliance Entertainment . " With their legacy of undivided titles , cryptic retail relationships , and strong comportment in comics , tabletop game , and collectable merchandise , these commercial enterprise are extremely complemental to our exist distribution and fulfillment model . We see knock-down fussy - selling potentiality between our product lines and client bases , expanding the range of our expanded product portfolio across both mass retail and speciality channels . "
Alliance Entertainment CEO Jeff Walker started out in the amusement manufacture as the owner and operator of CD Listening Bar , a locus for music fans to garner together and plug into over their reciprocal cacoethes . Jeff founded euphony wholesaler Super D in 1995 and , with business cooperator Bruce Ogilvie merged AENT and Super D in 2013 to be the market leader in strong-arm medium distribution for music , pic , toys , collectables , and consumer electronics .
Alliance Entertainment states that they will gain deeper admission to a highly booked community of retailer and fans who form the backbone of the direct grocery .
Alliance Entertainment states that they have " substantial account overlaps already distinguish " , introduce Diamond ’s distribution into Alliance ’s mass retail and e - commerce channels while bring Alliance ’s catalogue of physical media and licensed merchandise into comic Holy Writ and plot stores .
" This transaction will position Alliance to deliver long - condition value by bringing together some of the most iconic devotee - driven brand in the world with the diligence ’s most efficient and scalable distribution platform , " added Walker . " It aligns instantly with our strategy to acquire through eminent - impact , Washington - easy opportunities that fortify our market place part and expand our margin potential . By mix these asset , we ’re increasing our production exclusivity , amplify retail and e - commerce reach , and unlock newfangled cross - channel synergies , all while staying disciplined in our functional execution . This is on the nose the eccentric of opportunity that supports our retentive - term goal for sustainable outgrowth , profitability , and shareholder note value . "
Alliance Entertainment states that it intends to finance the acquisition through " an amendment to its survive $ 120 million Revolving Credit Facility , which it anticipate to increase to $ 160 million . The improve installation will be secured by a assurance of the acquired assets alongside the Company ’s be collateral . The transaction and credit deftness amendment are expected to close in April 2025 , subject to last bankruptcy Margaret Court approval and customary closing weather condition . " More to come of course …
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