Gem confirms buyout of Trilogy Logistics
40 staff saved from redundancy; Trilogy management team stays on
Distribution company Gem has announced it has acquired Trilogy Logistics, following Trilogy's collapse at the end of last month.
The acquisition of the company's IP and assets will save 40 staff from redundancy, said Gem, while allowing Trilogy to continue to service its supply and retail partners. In addition, the combining of the businesses will enable the potential for a southern operation to compliment Gem's existing set up.
"We are very pleased to have acquired the Trilogy assets, following their unfortunate situation last month," said Chris Peacock, managing director of Gem. "Fortunately, we were able to move quickly and offer a solution which has greatly benefited both businesses as well as saving the jobs of the majority of their staff.
"Bringing the experience of Matthew Allen and his team on board was essential to our acquisition decision. Trilogy will operate as a Gem business going forward which will allow them to not only continue to trade but also develop their business to suit their existing retail and supply partner needs."
"Part of the Gem strategy over the next 18 months is to open a Southern Distribution Centre and this can now be achieved with the Trilogy management team. The business will continue to trade with the Trilogy brand name as this is already well established within the entertainment industry."
"It is no secret that the entertainment industry has seen a significant demise. This significantly affected our businesses and led to financial issues, meaning we were unable to trade and had to appoint an administrator," added Matthew Allen of Trilogy.
"Having a new parent such as Gem gives us financial stability and being part of a bigger organisation will allow us to continue to grow in line with our strategic goals. There are many synergies between the two businesses and over the coming months we can start to leverage each others assets to offer a combined solution for the entertainment market."
Trilogy's troubled financial situation was revealed last month when Mastertronic pulled out of a deal with the company. Following the release of Assassin's Creed 2, Ubisoft also cut ties with the company with which it had previously held an exclusive distribution contract. Trilogy's clients also include 505 Games and Square Enix.