BandMerch will maintain a strategic relationship with AEG Live. Terms of the deal with not disclosed.
"We're extremely excited about this transaction as it pairs two like-minded companies who are focused on bringing the highest level of customer service to our clients," Bongiovi said in a statement. "I believe that this combination puts us in a unique place in the market relative to our less sophisticated competitors and, for clients who want a hands-on, full service merchandising strategy, I think we will be the only place to call home."
Greene added, “What we're seeing is that clients want a real, multi-channel sales strategy that brings incremental value to the table. The combination of Cinder Block and BandMerch positions us as the leading alternative for artists who are seeking a high-touch, high-service, high-quality experience from their merchandise partner. With our stellar set of resources we will continue to outwork, out-compete and over-deliver on results, providing a superior artistic and operational experience for our artists and their management. After this merger we will boast the single largest mid-tier retail roster in the world, a global touring footprint and leading-edge e-commerce capabilities.”
In 2009, Los Angeles-based equity firm Transom Capital Group acquired Cinder Block from founder/president Jeffery Bischoff, who retained some ownership of the business. Last year, Sony Music Entertainment entered into a strategic partnership agreement with BandMerch to expand and develop Sony’s merchandising programs in the North American retail market in conjunction with the Thread Shop, Sony’s merchandising arm.