Najafi Companies Sells Majority Interest In Direct Brands To Pride Tree Holdings
PHOENIX, Feb. 5, 2013 /PRNewswire/ -- Najafi Companies has sold its majority interest in Direct Brands, parent company of Columbia House, Book-of-the-Month Club and other book clubs, to Pride Tree Holdings in a transaction during the last quarter of 2012.
Last week, Najafi Companies announced it was backing Resolution, a new full-service talent and literary agency with offices in Los Angeles and New York and the successful completion of the acquisition of Cinram International. These recent transactions represent Najafi Companies' focus on content and digital growth in the entertainment and media space.
"We continue to seek partnership opportunities with world-class management teams and companies to complement our content and digital build-out on a global basis," said Jahm Najafi, CEO of Najafi Companies. "The evolving market needs and customer demands in this space provide exciting opportunities for innovative and progressive companies capable to adapt to this changing environment."
About Najafi Companies
Najafi Companies is an international private investment firm based in Phoenix, Arizona, with offices in New York, Paris, Toronto 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.
About Direct Brands
Direct Brands is one of the largest direct-to-consumer distributors of media products in the U.S. The company is home to DVD and book club brands such as Columbia House, Doubleday Book Club, Book-of-the-Month Club, BOMC2.com as well as a number of special interest and lifestyle book clubs. The company serves members in the U.S. through its various club catalogs and online.
SOURCE Najafi Companies