LINCOLN CAPITAL HAS JUMBO-SIZE AMBITIONS
By Adnews Staff
Toronto-based Lincoln Capital Corp. is taking over the Jumbo Entertainment video sale and rental chain, with growth plans on its mind. In a deal valued at $65 million, Lincoln will pay off the owners of privately-held Jumbo with a combination of Lincoln common and convertible redeemable preferred shares. Lincoln will then make a public offering of its own shares to finance expansion of Jumbo. Based in Burlington, Ont., Jumbo is a franchisor of 61 Jumbo Video stores with combined annual sales of $57 million in five provinces. Advertising for the video chain is done by Anas Marketing of Washington, D.C.
« Back Next »
Comments
blog comments powered by Disqus