HMV owner to acquire US based For Your Entertainment
Doug Putman, the owner of HMV and Sunrise Records, is to acquire the US based For Your Entertainment retail business.
The company has over 200 stores across the US and over 2,500 employees.
Putman said the addition of For Your Entertainment to his portfolio is a good fit with HMV in the UK and Sunrise Records in Canada.
He added: “Getting the right mix of product across culture and entertainment – and bringing retail theatre to these outlets that make them a destination – has already proven a winning formula as we’ve turned around and grown Sunrise and HMV since we acquired them. We now intend to grow this chain in the USA and open more new stores starting this year. We are very excited about the opportunity to own such an amazing brand.”
In addition to For Your Entertainment’s 200 stores, the deal will include the online retail brands www.fye.com and www.secondspin.com.
The transaction is expected to close in the first quarter of 2020.
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