Najafi Cos. Completes Acquisition of Cinram North America4 Sep, 2012 By: Chris Tribbey
Private investment firm Najafi Cos. has completed its acquisition of replicator Cinram’s North American assets.
The sale of Cinram’s European operations to Najafi should be completed by the end of the year.
“With the closing of this acquisition now complete, we look forward to working with Cinram’s loyal suppliers, management team and employees to continue to offer Cinram’s innovative and industry-leading services and products to its broad and impressive customer base,” said Najafi CEO Jahm Najafi.
The sale is worth approximately $82 million. Cinram supplies and distributes discs for 20th Century Fox Home Entertainment, Relativity Media and others. Najafi also owns Direct Brands, SkyMall and Trend Homes.
“The closing of this transaction represents a very significant milestone for Cinram,” said Cinram CEO Steve Brown. “The improved financial position of the new company, along with the experience and expertise of Mr. Najafi and his team, will provide management with an opportunity to grow in the marketplace, expanding its product and service offerings and focus on ensuring the best outcome for the business and its stakeholders, including its customers, suppliers and employees."