An update today in the ongoing saga of the Diamond Comics Distributors bankruptcy. Earlier in the year, Alliance Entertainment was announced as the winner. Apparently Diamond didn’t like that and thought Ad Populum (owner of NECA and others) and Universal Distribution won, Alliance sued to make sure they were the winner, and Alliance won. Then a bit later, Alliance backed out of the deal. It briefly turned from a Chapter 11 sale to a Chapter 7 liquidation, and then returned back to a Chapter 11 sale. As of today, Ad Populum and Universal Distributors are the winners. Ad Populum will take over Diamond Comics Distributors, Diamond Book Distributors, Diamond Select Toys, CGA & some others, while Universal Distributors from Canada will snag the Alliance Game Distributors part (which has no relation to Alliance Entertainment).
So long as this goes through, Diamond Select Toys, Gentle Giant and NECA will be sister companies soon.
We wish all involved especially the related toy and collectible divisions the best of luck!
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Court Approves Universal Distribution LLC and Ad Populum Bid to Acquire Diamond Comic Distributors and Related Assets
HUNT VALLEY, Md.–(BUSINESS WIRE)–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.