NASHVILLE, Tenn., July 2, 2014 – Ingram Entertainment Inc. (www.ingramentertainment.com), the leading national distributor of home entertainment products, announced today that a subsidiary has purchased substantially all the assets of V.P.D. IV, Inc., a national home entertainment products distributor based in Folsom, California. The transaction is effective June 30, 2014.
David Ingram, Chairman of Ingram Entertainment, said structural changes in the DVD home entertainment marketplace led to a deal with VPD.
“Acquiring the assets of VPD will enhance our financial performance by enabling us to process more units through a combined fewer locations. Those efficiencies will better position us to work with our suppliers to provide our retailers with the products they need for their businesses. We believe physical home entertainment media has a solid future, and we look forward to the opportunities ahead. I am excited for our suppliers, customers, and associates,” said Ingram.
Bob Webb, Ingram Entertainment’s President & CEO, noted that “VPD has been a significant contributor to the home entertainment products distribution business for many years. We at Ingram Entertainment look forward in particular to increasing our sales of products to “rentailer” customers, as this segment represents a significant portion of VPD’s business that will be transferred to Ingram Entertainment.” Webb also expressed appreciation to all the personnel at both Ingram Entertainment and VPD who assisted in the purchase and will be assisting in the transition.
Both Webb and Ingram stressed that Ingram will be working to make the switch for customers from VPD to Ingram as seamless as possible.
Terms of the acquisition were not disclosed.
Tim Shannahan, VPD’s Chairman/CEO and principal shareholder, remarked that “Departing from the wholesale distribution business is bittersweet for me, to say the least. I will be eternally grateful to all the dedicated VPD personnel, both past and present, without whose contribution of time, talent, energy, and loyalty, we would have never enjoyed the success we experienced for so many terrific years! I have a great deal of respect for Ingram Entertainment and its people and am confident VPD’s many customers will be in good hands. My thanks to everyone who has helped along the way.”
Ingram Entertainment is headquartered in La Vergne, Tennessee, outside of Nashville. It is the leading national distributor of home entertainment products, including DVD and Blu-ray software, video games and audiobooks. Video specialty stores, electronics and video game stores, Internet retailers, drugstores and supermarkets comprise the bulk of its customer base. Ingram Entertainment operates out of five sales and six shipping facilities throughout the United States, four of which serve as national distribution centers. For over 99% of the continental United States, Ingram Entertainment products reach customers within two shipping days. The company also provides support services, including direct-to-consumer fulfillment for Internet retailers and category management services for retail partners.
FOR MORE INFORMATION CONTACT: Pam Garrison, pam.garrison@ingramentertainment.com, 615-287-4042
