PHOENIX, AZ, Jan. 31, 2013 /PRNewswire/ - A newly-formed affiliate of the Najafi Companies, Cinram Group Inc., (CGI) has closed on its acquisition of Cinram's European operations. Cinram, based in Toronto, is one of the largest manufacturers and distributor of optical discs including Blu-ray, DVD and CD. Terms were not disclosed.
Najafi completed its acquisition of Cinram's North American operations in late 2012. CGI is a recently created affiliate of Najafi Companies that will continue to operate under the Cinram name offering innovative manufacturing, packaging and distribution of movies, music, games and books.
CEO Jahm Najafi said Cinram complements other current Najafi entertainment-related investments including Direct Brands, Inc., one of the largest direct-to-consumer distributors of media products in the U.S. including music, DVD and book club brands. Najafi also acquired DirectGroup France, an investment that includes retail, book clubs, e-books and an online portal for the purchase of books and DVD products.
Cinram CEO Steve Brown said "the closing of this transaction brings the significant resources of Cinram Europe into the new company, where it will benefit from a vastly improved financial position, along with the experience and expertise of Mr. Najafi and his team. Under the leadership of Neil Ballantine, this solid foundation will provide our European management team with an opportunity to grow the business with renewed confidence."
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 optical disc manufacturing (DVD, Blu-ray and CD), 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 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.
SOURCE Cinram Group Inc.