Diamond Distrubutors bought out by Alliance Entertainment
In a significant development within the entertainment distribution sector, Alliance Entertainment Holding Corporation has emerged as the winning bidder to acquire substantially all assets of Diamond Comic Distributors, Inc. This acquisition, pending approval from the Bankruptcy Court, encompasses key entities such as Diamond Comic Distributors (U.S.), Alliance Game Distributors, Diamond Select Toys & Collectibles, and Collectible Grading Authority. (Globalnewswire)(Bezinga)
Alliance Entertainment, a global distributor and wholesaler specializing in music, movies, video games, electronics, arcades, and collectibles, views this move as a transformative opportunity to enhance its leadership in gaming and physical collectibles. Jeff Walker, CEO of Alliance Entertainment, emphasized the strategic fit, noting that the acquired businesses' legacy of exclusive titles and deep retail relationships are highly complementary to Alliance's existing distribution and fulfillment model. He highlighted the potential for powerful cross-selling opportunities across both mass retail and specialty channels. (Bleeding Cool News)(comicsbeat)
Bruce Ogilvie, Executive Chairman of Alliance Entertainment, expressed enthusiasm about integrating the talented teams from Diamond Comic Distributors and associated entities into the Alliance family. He acknowledged their deep relationships within the fandom, hobby, and collectibles communities and looked forward to supporting and investing in their success. (Bleeding Cool News)
The acquisition is projected to generate over $200 million in revenue and more than $10 million in EBITDA by the fiscal year 2026. The acquired businesses collectively support over 5,000 retail storefronts, ranging from independent comic and game stores to specialty retailers, mass-market chains, and leading e-commerce platforms. This expansion provides Alliance Entertainment with deeper access to the $50+ billion global market for tabletop games, collectibles, comics, and pop culture merchandise. (Globalnewswire)
The transaction will be financed through an amended $160 million Revolving Credit Facility, an increase from the previous $120 million. Subject to Bankruptcy Court approval, the acquisition is expected to close by April 2025. (Bleeding Cool News)
This strategic acquisition underscores Alliance Entertainment's commitment to expanding its footprint in the collectibles and gaming market, positioning the company to better serve a diverse and passionate customer base. (Bezinga)
