Chicago, IL – October 5, 2011; City Capital Advisors, LLC is pleased to announce that The Chas. Levy Company LLC has sold its sole operating subsidiary, Levy Home Entertainment LLC (“Levy”), to Readerlink LLC, an affiliate of Treesdale Investments, Inc.
City Capital Advisors, LLC was hired as the exclusive financial advisor to Levy. Dennis E. Abboud, Managing Partner of Treesdale Investments, and President of Readerlink LLC, previously served as an executive at Chas Levy Company, from 1994-2000. “Our Company will strive to become the ‘reader link’– the essential link between our publishers, our retail partners and their customers. Our new strategy will help us compete in our industry’s newest frontiers, from eBooks, to ecommerce fulfillment, to proprietary publishing. Most importantly, we will pursue these initiatives while continuing to focus on, and invest in, our core full-service print book distribution business,” said Abboud.
Prior to the acquisition, Levy Home Entertainment had been continuously majority-owned and controlled by the Levy family since its founding in 1962. Barbara Levy Kipper, Chairperson of Chas Levy LLC, said, “This transaction will allow Levy Home Entertainment to focus on continued growth and investment in its core competencies while leveraging new expertise in digital media and direct-to-consumer fulfillment. We are pleased to have identified the right buyer and are confident the business, its customers and its publisher partners are in good hands.” City Capital contacted both strategic and financial parties and managed a competitive process toward a fully-negotiated definitive agreement and subsequent closing with Treesdale Investments, Inc.
Terms of the agreement were not disclosed.
About Levy Home Entertainment
Levy Home Entertainment is the largest full-service distributor of books in the United States, providing distribution, category management and other services to leading retailers in the mass merchant, grocery, drug, warehouse club and specialty retail channels.
About Treesdale Investments, Inc.
Treesdale Investments is an independent investor as well as a consultancy firm specializing in the delivery of divestiture and performance solutions to businesses of all types and sizes.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm. Client engagements are managed exclusively by experienced senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital’s investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.