Huge news everyone!
Funimation announced some huge news on Monday and in short they are growing their distribution and logistical reach. Anime Root really hopes this means that we will see more Funimation product appearing at more stores here and in Canada. The community is looking at this move as a positive decision in the right direction and only time will tell if it truly was the best choice. Funimation has proven itself to be profitable and competitive in the market and it continues to grow and evolve during these rough economic times. We will continue to follow this news as it becomes available to us.
This was posted on Monday April 4th 2011 on Funimations Blog.
“As of this afternoon, FUNimation Entertainment is owned by an investment group led by founder, president and CEO Gen Fukunaga.
This is momentous day and we are excited about our new partners. They share our vision and will help us develop what will be the future of FUNimation. This future also includes the Navarre Corporation as they will continue to distribute our product and we look forward to working with them for years to come.” – Funimation Blog
Link to Funimations Information Blog [LINK HERE]
Here is a Small chunk of the Press Release from Navarre Corporation
Navarre Corporation Announces Sale of FUNimation Entertainment
Company Advances on Strategic Initiatives and Affirms Debt-Free Status at March 31, 2011
MINNEAPOLIS, Apr 4, 2011 (GlobeNewswire via COMTEX) — Navarre Corporation (Nasdaq:NAVR) today announced that it has sold FUNimation Entertainment for $24 million in an all cash transaction. Purchasers in the transaction are a group of entities that were newly formed by an investment group that includes Gen Fukunaga, FUNimation Entertainment’s chief executive officer, as a minority stakeholder. In connection with the sale, the Company has entered into an agreement to act as FUNimation Entertainment’s exclusive distributor in the United States on a continuing basis, and will also act as FUNimation Entertainment’s logistics and fulfillment services provider.
The transaction is a major step forward in the Company’s ongoing strategy to focus on the expansion of revenue in the distribution of new product lines, further develop the breadth of its value added services, and continue to grow its direct to consumer fulfillment services. This strategy has already resulted in a significant reduction to debt and has improved operating margins by leveraging the Company’s significant distribution and logistics expertise and considerable systems and physical assets.
……
Complete Press release [LINK HERE]
Leave a Reply