Brazin Sells U.K. Biz
Australian retailer Brazin has sold its Sanity Entertainment U.K. stores to London investment firm Primemist for $8.14 million. Cash from the sale of the 118 U.K. stores will be funneled back into Brazin's Australian operations.
Asked if the stores will continue to
operate in the short term, a Sanity insider in London comments, "It's business as usual."
Brazin first stated its intention to pull Sanity from the U.K. in July. Sanity took a foothold in the territory in October 2001, when it bought 77 Our Price outlets from Virgin Entertainment Group (VEG). In 2002, Brazin acquired 41 more VEG stores. The acquisitions were made for the nominal sum of £3 ($5).
Asked if the stores will continue to
Brazin first stated its intention to pull Sanity from the U.K. in July. Sanity took a foothold in the territory in October 2001, when it bought 77 Our Price outlets from Virgin Entertainment Group (VEG). In 2002, Brazin acquired 41 more VEG stores. The acquisitions were made for the nominal sum of £3 ($5).
In addition, make sure to read these articles:
- GERA Blasts Merger Talk
- Merger Withdrawn By Warner, Emi
- Ultramar Diamond Shamrock Announces the Purchase Of Twenty-Two Retail Outlets In the...
- Nontraditional Music Outlets Grow In U.k.; Indie Retailers Decline
- Australia's Sanity To Pull Out Of U.K. Music Retail
- Big Push For v.shop Chain
- Virgin Hits Milestone In Conversion Of U.K. Stores
- Duffell To Exit Oz's Sanity; Profit Declines Expected
- Whsmith: Music To Play Lesser Role
- Veg's New Concept For Our Price
- Europe Warms To Motown's India.arie
- U.k.'s Faithless Repays Bmg's Belief
- Virgin Ent. Plans Expansion
- Virgin/Our Price company history
- Veg Claims To Be Settling Dispute With U.k. Majors
The European branch of the Global Entertainment Retail Assn. (GERA) on Friday warned against consolidation among the music majors.
A Billboard staff report. The Warner/EMI merger, born in Sardinia, Italy, 56 weeks ago during a conference of senior EMI executives, fell to Earth Oct....
Business Editors & Energy Writers SAN ANTONIO--(BUSINESS WIRE)--Dec. 12, 2001 Ultramar Diamond Shamrock (NYSE:UDS) today announced the purchase of 22 assorted retail outlets in the ......
LONDON‹The number of nontraditional outlets for music in the U.K. is now greater than ever. Simultaneously, the independent record retail sector is at its lowest ......
Australian music retailer Sanity Entertainment is to withdraw from the U.K. market. The repositioning of the chain-which has 2% of the U.K. music market-follows recommendations ......
Virgin Entertainment Group's v.shop chain?launched in September during the group's ongoing revamp of its under-achieving Our Price operation in the U.K.?is spending some £3 million ......
The Virgin Entertainment Group's (VEG) launch of its v.shop chain in the U.K. completes its first phase today with the opening of its 97th store, ......
Ian Duffell will exit as executive director of Sanity Entertainment, Australia's largest music and DVD retail chain, later this month. The news comes as Sanity ......
LONDON‹WHSmith, until this month the leading player in the British music market, has reached a landmark in its music strategies, both here and in the ......
The Virgin Entertainment Group's (VEG) 20 million pound ($35 million) makeover of its under-achieving 229-shop Our Price music retail chain gets under way Sept. 4, ......
"I give thanks to the universe for my many, many, many lessons and blessin's." ......
Richard Griffiths may have departed BMG a little more than two months ago, but the legacy of the company's former U.K./Europe president has been burning ......
LONDON-In the wake of record financial results, Virgin Entertainment Group (VEG) is gearing up for a year of expansion with a string of store openings ......
1970 Richard Branson founds Virgin as a mail order record retailer....
Virgin Entertainment Group (VEG), parent of the Virgin Megastore and Our Price retail chains, claims that it is in the process of settling its payments ......
Email
Digg It
del.icio.us
Related Resources
Press Releases
- Ultramar Diamond Shamrock Announces the Purchase Of Twenty-Two Retail Outlets In the Mid-Continent Region.
- Vivendi Universal Net USA Poised for Lead Role in U.S. Mobile Media Services Industry Through Ownership of Premium Wireless Services, Inc.
- Fitch Places Security Capital & Storage USA On Rtg Watch Pos.
Business Resources
Sponsored Links
Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
© Copyright 2003 Nielsen Business Media, Inc. All rights reserved.
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.
AllBusiness.com, its parent company D&B, and its affiliates.
