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Najafi Companies to acquire assets and business of Cinram

Toronto-based global replicator and supply-chain service provider Cinram is to be sold to investment house Najafi Companies for an undisclosed sum. The sale involves all of Cinram's assets and businesses for the manufacture of pre-recorded multimedia products and the provision of related logistics services, digital media solutions and outsourced vendor management inventory services in the US, Canada, the UK, France and Germany.

Excluded from the sale are the company's telecommunication products' logistics services and some real estate.

The sale is expected to close by early August although the transfer of portions of the business may occur later in the year, says the communiqué. The company is keen to underline that the restructuring process is not expected to affect its day-to-day operations. "Cinram has access to the funding necessary to maintain its operations and the operations will continue without disruption during this period, including continuing to pay its suppliers for all goods and services through the course of the restructuring process."

Phoenix, Arizona-based Najafi Companies is an international private investment firm whose current portfolio companies include Direct Brands, Actissia, SkyMall, Trend Homes and Snowflake Power. "The firm makes highly selective investments up to $1 billion in transaction value in companies with strong management teams across a variety of industries, and often in industries out of popular favor," boats the company.

"We look forward to joining with Najafi Companies," said Steve Brown, CEO, Cinram. "Cinram will continue its focus on strengthening its competitive position in the market with a much stronger financial footing."

Story filed 25.06.12

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