Completes acquisition of Connect2One from Nebraska Book Company
OBERLIN, Ohio and LINCOLN, Neb., April 15, 2013 /PRNewswire-USNewswire/ -- indiCo LLC, a subsidiary of the National Association of College Stores (NACS) committed to supporting independent college stores, today completed its previously announced acquisition of Connect2One from Nebraska Book Company. Terms were not disclosed.
Connect2One, the largest and most comprehensive buying group in the collegiate retailing industry, will become an integral and strategic unit of indiCo, a new NACS subsidiary focused on uniting independent college stores through innovation and shared strategy.
"The alignment of Connect2One and indiCo emphasizes a renewed commitment to the success of independent college stores," said Brian Cartier, CEO of NACS. "The expertise and reputation of Connect2One throughout its 25-year history provides indiCo with a new way to fulfill its mission of helping independent stores evolve and thrive."
Day-to-day operations of Cincinnati-based Connect2One will be led by longtime employee Paula Haerr, who will serve as interim executive director and report to Ed Schlichenmayer, deputy CEO of NACS and president of indiCo. "I am thrilled to be in on the ground-floor of yet another chapter in Connect2One's successful history," said Haerr. "The integration of the buying group is an exciting opportunity to leverage Connect2One's strengths to support the mission of indiCo and truly make a difference for independent stores."
Mark Palmore, Connect2One's former executive director who is staying with Nebraska Book Company, was equally upbeat about the change in ownership, noting that as Connect2One transitions to indiCo ownership "I am confident that the buying group remains in great hands. Its new leadership is uniquely qualified to lead the company into the future."
About indiCo LLC
indiCo is a centralized source of business support dedicated to independent college stores. As such it will help them adopt shared strategies and practices, introduce new retailing opportunities, and provide leadership and innovation on issues that are critical to their success. Additional information can be found online at www.indiCo-uniting.com.
Headquartered in Oberlin, Ohio, the National Association of College Stores (NACS) is the professional trade association representing the collegiate retailing industry. NACS represents nearly 3,000 collegiate retailers and approximately 1,000 associate members who supply books and other products to college stores. NACS member stores serve America's college students while supporting the academic missions of higher education institutions everywhere. Additional information on NACS can be found online at www.nacs.org.
About Nebraska Book Company
Neebo Inc. is the beneficial owner of Nebraska Book Company Inc., which began in 1915 with a single college store near the University of Nebraska campus and now operates nearly 250 stores, serving more than 2 million students at colleges and universities nationwide. Nebraska Book Company Inc. sells 6 million textbooks annually and installs more than 1,600 technology platforms and e-commerce sites at more than 2,500 bookstores. Additional information about Nebraska Book Company Inc. can be found at the Company's web site: www.nebook.com.
SOURCE National Association of College Stores