Wed, 16 Mar 2011 | BUSINESS SALE
DVD distributor MBL Group plc has put itself on the market after it recently lost two large contracts with supermarket chain Morrisons.
KPMG has been drafted in to manage the sale of the business, but has warned that offers may not be forthcoming.
MBL has had contracts to supply Morrisons with DVDs and CDs for the past 14 years. The contracts have accounted for up to 78 per cent of MBL’s revenues.
The loss of contracts will also mean significant redundancies for its 320-strong workforce. Rival distributor Cinram will take over when MBL’s deal comes to an end in September, after a five-month pitch for the contract.
It is understood that Morrisons is buying an increasing amount of its stock directly from film and record labels.
The Lancashire-based firm was established as Air Music and Media Group in 1995. It supplies to large and independent retailers, and to export clients. It distributes console and computer games as well as DVDs and CDs.
MBL Group plc recorded a turnover of £194.8 million for the year to 31 March 2010, with a pre-tax profit figure of £9.875 million.
The group has three divisions. MBL, or Music Box Leisure, provides a category management service in which it manages customer accounts and buys its products from its base in Lancashire. ESD Wholesale Limited, based in Buckinghamshire, wholesales the entertainment products to retailers. The third and newest division is Windsong, based in South London, and is responsible for providing its products to export and internet customers.
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