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GLENCOE CAPITAL BUYS ENTERTAINMENT RESOURCE, INC. (ERI)
Firm acquires Florida-based home entertainment merchandiser
(March 23, 2005) David Evans, Glencoe Capital's Chairman, today announced the firm's acquisition of Entertainment Resource Inc. (ERI) from a group of investors led by Palm Beach Capital.
ERI, based in Dania, Fla., is a leading national distributor and merchandiser of family-oriented home entertainment products to grocery stores, drug stores and specialty retailers. ERI's products include new releases and catalog films, TV episodes, and fitness and educational videos on DVD and VHS.
"ERI has tremendous prospects for growth," noted Evans. "The home entertainment sector has seen a shift from rentals to outright purchase of media, accompanied by increased consumer electronic sales and the greater availability of quality content."
"As demand for media products continues to grow," Evans stated, "movie studios and other content providers are seeking alternative distribution beyond the big-box retailers and rental outlets. ERI's customers provide that."
"ERI's market for high-quality DVD and VHS products is strong and growing," said Randy Parker, ERI's founder, president and CEO. "We are excited about the opportunity to work with Glencoe and its Executive Network as we achieve our goals over the next several years." Parker continues as ERI's CEO and will serve on its board of directors.
ERI's integrated category management solution for retailers combines vendor-managed inventory, product fulfillment and in-store merchandising services. ERI's services improve the retailer's success in their home entertainment category by optimizing the mix of new release, catalog and promotional content on a store-by-store basis. ERI distributes products produced by all the major movie studios and many independent studios.
For more information, contact:
or
Clovis, Inc.
(312) 346-1700
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