Cinram International Income Fund announced today that it has reached agreements with newly formed subsidiaries of Najafi Companies (collectively, “Najafi”) for the sale of substantially all of Cinram’s assets and businesses in the United States, Canada, the United Kingdom, France and Germany.
“Cinram is a market leader in its industries with a long track record of best in class performance,” said Jahm Najafi, CEO, Najafi Companies. “We look forward to a seamless transition for our customers, and to build on Cinram’s significant base of strengths and expertise.”
“We look forward to joining with Najafi Companies,” said Steve Brown, CEO, Cinram. “Cinram will continue its focus on strengthening its competitive position in the market with a much stronger financial footing.”
A detailed report will appear in the next issue of D2D.