Alliance Entertainment to Merge with SPAC in USD 480m Transaction.
MANews-(C)2009-2022
US-based special purpose acquisition corporation Adara Acquisition Corp (NYSE American: ADRA) has signed a definitive business combination agreement with music, movies, video games, electronics, arcades, and collectibles distributor and wholesaler Alliance Entertainment Holding Corp, the company said.
Upon closing the combined entity is expected to be listed on the New York Stock Exchange American under the ticker symbols "AENT" and "AENT.WS."
Bruce Ogilvie and Jeff Walker will continue to lead the company as chairman and CEO, respectively.
With more than thirty-five years of distribution experience, Alliance Entertainment serves customers of every size, providing a suite of services to resellers and retailers worldwide.
Alliance stocks over 485,000 unique entertainment products from Microsoft, Nintendo, Activision, Electronic Arts, Sega, Funko, Disney, Warner Home Video, Universal Video, Sony Pictures, Fox, Lionsgate, Paramount, Warner Music, Sony Music, Universal Music, Mattel, Lego, Hasbro, Arcade1Up, and over 500 additional Entertainment product manufacturers.
Through the exclusive distribution divisions of AMPED, Distribution Solutions, and Cokem, Alliance is the exclusive distributor of over 57,300 unique Vinyl, CD, DVD, and Video Game products to retailers worldwide.
e-commerce fulfillment is a cornerstone of Alliance's success and a significant growing division with over 38% of the companies USD 1.4bn in sales being delivered directly to consumers homes.
In 2021 over 13.845m products were delivered as a drop shipper for Amazon, Walmart, Best Buy, Wayfair, GameStop, Kohls, Target, and hundreds of additional e-commerce customers.
The DTU division of Alliance also has its own websites and retail brands such as Deepdiscount.com, Popmarket.com, Importcds.com, Critic's Choice Video, Collectors Choice Music, and Movies Unlimited.
In addition, the company has worldwide...
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