Cinram Group announced that it has completed its purchase of JVC America, the U.S. optical disc (CD/DVD) replication, packaging and fulfillment business of JVC KENWOOD Corporation.
Cinram’s long-term plans for its newly acquired facilities in Tuscaloosa, AL and Kennesaw, GA remain a mystery and, in typical style, the company did not respond to repeated requests for comment.
For more information visit: www.cinram.com ; www.jvc-america.com
Related News:
JVC Sells CD/DVD Replication Business to Cinram (14 May 2014)
Cinram Acquires JVC Video Game Software Division (14 May 2014)
Unedited press release follows:
CINRAM GROUP INC, A NAJAFI COMPANIES OWNED AFFILIATE, COMPLETES ACQUISITION OF JVC AMERICA INC.
PHOENIX, Ariz. and TORONTO (June 16, 2014) – Cinram, a Najafi Companies affiliate, has closed on its aqcuisition of JVC America Inc. (JAI), a division of JVC Americas Corp., a fully consolidated U.S. sales subsidiary of JVC KENWOOD Corporation. Terms were not disclosed.
The award-winning JAI manufacturing and fulfillment operations based in Tuscaloosa, Ala., and Kennesaw Ga., provides services to major gaming and software publishers, and a range of non-media and retail clients. It will now operate as Cinram Operations, Inc. The newly formed affiliate will be integrated into Cinram’s current mix of business and will strengthen its offerings to new and existing clients.
Toronto-based Cinram is a leading service provider to the entertainment industry and one of the largest global manufacturers and distributors of pre-recorded media products for the world’s leading motion picture studios, record labels and game publishers. Cinram also provides turnkey packaging and distribution services to a growing number of non-media clients.
“This is both a complimentary and supplementary deal,” said Cinram CEO Steve Brown. “While we share many of the same services, there are operational facets that will strengthen our supply chain offerings and position us to handle a broader spectrum of products and customers. We are proud to welcome the JAI team to Cinram.”
“This acquisition allows Cinram to continue to lead the industry while strengthening its supply chain and expanding its product offerings,” said Najafi Companies CEO Jahm Najafi. “JAI is an ideal fit as it furthers Cinram’s leading position in the multi-media industry.”
Financial advisors for JVC Kenwood Corporation were SMBC Nikko.
About Cinram Group Inc.
Cinram Group Inc. (CGI), a wholly-owned affiliate of Najafi Companies (Najafi), is one of the world’s largest providers of media development and delivery services. Located in North America and Europe, the company has worked with some of the biggest names in home entertainment and retail. With a full range of supply chain services, which include pre-recorded media product manufacturing, packaging, distribution and business solutions, Cinram guarantees products flow smoothly and profitably to consumers around the world.
About Najafi Companies
Najafi Companies is an International private investment firm based in Phoenix, Arizona, with offices in Los Angeles, New York, Paris, Toronto, London and holdings in sectors including consumer, media, technology, industrial, energy and real estate across seven countries. The firm makes highly-selective investments in companies with strong management teams across a variety of industries, often in areas undergoing rapid technological transformation. The firm takes a long-term view on its investments and focuses its efforts to create value through growth and superior performance. Najafi Companies funds its investments with internally generated capital, not through a fund. Free from the restrictions of a fund, the firm is able to move quickly and decisively when investing, and with no requirements to return capital to outside partners, Najafi Companies is able to make investments that create maximum value for the long term.