Cinram acquires Vision Worldwide Management's business

The ebizlaw team acted for Cinram International Inc. (“Cinram International”) in connection with its acquisition of substantially all of the business and assets of Vision Worldwide Management, LLC, a company registered in Detroit, Michigan (US) (“Vision”) and Lewiston Staffing (UK) Limited (“Vision UK”), Vision’s UK subsidiary (the “Transaction”).  

Cinram International is an indirect wholly owned US subsidiary of Cinram International Income Fund (“CIIF”) and is the world’s largest provider of pre-recorded multimedia products and related logistics services. CIIF’s units are listed on the Toronto Stock Exchange. Pursuant to the terms of the asset purchase agreement, Cinram International, through its US and UK operating subsidiaries, acquired Vision’s North American assets and Vision UK’s European assets for the aggregate purchase price of US$10 million. The Transaction closed on 27 September 2007.

Vision is a privately held company based in Detroit, Michigan, with operations in Europe and is the leading provider of outsourced vendor management inventory services to the home entertainment industry.