The long national nightmare seems to be entering a different phase: the Maryland bankruptcy court ahs approved the sale of Diamond Comics and most of its assets to the combined Universal/Ad Populum bid.
I’d heard from some people on the street that the sale had gone through, but a press release has made it official. And here it is in full:
Diamond Comic Distributors (“Diamond” or “the Company”), today announced that the United States Bankruptcy Court for the District of Maryland (“the Court”) has approved a combined bid by Universal Distribution LLC (“Universal”) and Ad Populum to acquire the assets of Diamond Comic Distributors. Under the agreement, Universal will acquire the assets of Alliance Game Distributors, and Ad Populum will acquire the assets of Diamond Comic Distributors, Diamond Book Distributors, Diamond Select Toys & Collectibles, Collectible Grading Authority, and other related assets. Diamond UK remains separate from this sale process. The transaction is subject to final closing.
“We are pleased that the court has approved Universal and Ad Populum’s combined bid. Our priority during this process has been to minimize disruption to publishers, retailers, our employees, and comic and games fans everywhere,” said Diamond Chief Restructuring Officer Robert Gorin. “We are confident that this will provide the best outcome for everyone involved.”
“This expansion into the U.S. market through our acquisition of Alliance Game Distributors marks a pivotal moment for Universal Distribution,” said Angelo Exarhakos, President and CEO of Universal Distribution. “We’re committed to building strong, transparent partnerships and ensuring that Alliance continues to serve as a reliable and resilient link in the supply chain.”
“Ever since I was young, I’ll never forget walking through the front door of my neighborhood shop and spotting those iconic Diamond Comic boxes, each one opening to reveal my dreams and ambitions,” said Joel Weinshanker, Managing Director of Ad Populum. “We’re incredibly excited to build on Diamond’s remarkable legacy by bringing Ad Populum’s best-in-class sales, marketing, and distribution to the next chapter.”
About Diamond Comic Distributors
Founded in 1982, Diamond Comic Distributors offers a multi-channel platform of publishing, marketing, and fulfillment services, coupled with an unparalleled global distribution network for its retailers, publishers and vendors. Diamond’s mission is simple: to provide our customers the best in products, price and personalized service. Learn more at https://www.diamondcomics.com/
About Universal Distribution
Universal has been distributing to hobby stores in Canada for over 30 years, servicing the needs of retailers in comics, collectible toys & figurines, sports and non-sports cards, collectible card games, and role-playing games.
About Ad Populum
Ad Populum aligns corporate strategy and fosters growth across its unique roster of consumer products and entertainment brands by leveraging its strong global retail distribution, product development, and manufacturing capabilities. Across its roster of brands, including NECA, Kidrobot, Wizkids, Chia Pet, Rubies, Smiffys, Enesco, Graceland, and more, Ad Populum is the largest producer of pop culture goods and experiences, targeting everyone from Boomers to Gen Z.
This resolution came despite a flurry of late filings today, including one from Alliance Entertainment that sought to delay the approval process. We’ll have more details and information on what comes next later.
Addendum: Although this COULD be the final resolution in the case, we all know what happened the last time one company sent out a PR blast claiming they had purchased Diamond. That was one month ago and there has been non stop action and drama since.
That’s just my way of saying: stay tuned!
