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BILLBOARD EXCLUSIVE: ALLEGRO ACQUIRES WHOLESALER SOFTLAND
05/17/2008
Thanks to a $25 million cash infusion from private equity firm Canterbury Park Capital, Allegro Media Group has acquired all of the outstanding shares of Softland, a wholesaler that is the exclusive supplier of music and video entertainment software to the U.S. Marine Exchange Service.
What's more, the Canterbury deal makes available a $12 million equity line for future acquisitions, in addition to a new $15 million revolving loan facility the company has received from U.S. Bank division USB Capital Resources.
By Billboard's estimate, Allegro is already the second-largest non-major-owned independent distributor behind Koch Entertainment Distribution.
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