Alliance Entertainment, a Florida-based global distributor specializing in music, movies, video games, electronics, and collectibles, has emerged as the winning bidder in the Chapter 11 bankruptcy auction for Diamond Comic Distributors. The acquisition includes Diamond Comic Distributors (U.S.), Alliance Game Distributors, Diamond Select Toys & Collectibles, and Collectible Grading Authority. The deal is pending final approval by the U.S. Bankruptcy Court for the District of Maryland, with a sale hearing scheduled for March 27, 2025. The transaction is expected to close by April 2025.
The auction saw competitive bidding, including a $39 million offer from Universal Distribution for Alliance Game Distributors. However, Alliance Entertainment’s bid was described as significantly higher than its competitors. The acquisition will be financed through an amended $160 million revolving credit facility, up from $120 million.
Bruce Ogilvie, Executive Chairman of Alliance Entertainment, expressed enthusiasm about the strategic potential of integrating Diamond’s assets into their operations. “We’re incredibly honored to welcome the talented teams from Diamond Comic Distributors, Alliance Game Distributors, and Collectible Grading Authority to the Alliance Entertainment family.” Ogilvie continued, “These are passionate professionals who have built deep relationships across the fandom, hobby, and collectables communities. We look forward to supporting them, learning from them, and investing in their success. To the suppliers, creators, and publishing partners that make this ecosystem so dynamic, we’re excited to collaborate and build lasting value together. And to the customers who rely on these brands every day, we remain committed to delivering the excellent service and reliability you expect, and taking it even further.”
Alliance plans to leverage Diamond’s legacy in comic book distribution and its extensive relationships with over 5,000 retailers to enhance its product portfolio and cross-selling opportunities. Jeff Walker, CEO of Alliance Entertainment, also added that this “is a transformative opportunity to expand our leadership in the world of gaming and physical collectables and deepen our reach into thriving fan-driven categories. With their legacy of exclusive titles, deep retail relationships, and strong presence in comics, tabletop games, and collectable merchandise, these businesses are highly complementary to our existing distribution and fulfilment model. We see powerful cross-selling potential between our product lines and customer bases, expanding the reach of our expanded product portfolio across both mass retail and speciality channels.”
Diamond Comic Distributors, a long-standing leader in comic book distribution founded 42 years ago, filed for Chapter 11 bankruptcy in January 2025 following financial challenges exacerbated by declining margins and rising costs. This acquisition marks a significant shift in the comics and collectibles industry as Diamond transitions to new ownership. Further details about the transaction are expected following the upcoming court hearing.
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Todd Fisher
Todd lives in Northern California with "the wife," "the kids," "the dogs," "that cat," and he occasionally wears pants. His upcoming release, "Are You Woke Enough Yet?", is the culmination of too much time on social media and working in the film industry.
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