indiCo LLC, a subsidiary of the National Association of College Stores (NACS) committed to supporting independent college stores, today completed its previously announced acquisition of Connect2One from Nebraska Book Company. Terms were not disclosed.
Connect2One, the largest and most comprehensive buying group in the collegiate retailing industry, will become an integral and strategic unit of indiCo, a new NACS subsidiary focused on uniting independent college stores through innovation and shared strategy.
"The alignment of Connect2One and indiCo emphasizes a renewed commitment to the success of independent college stores," said Brian Cartier, CEO of NACS. "The expertise and reputation of Connect2One throughout its 25-year history provides indiCo with a new way to fulfill its mission of helping independent stores evolve and thrive."
Day-to-day operations of Cincinnati-based Connect2One will be led by longtime employee Paula Haerr, who will serve as interim executive director and report to Ed Schlichenmayer, deputy CEO of NACS and president of indiCo. "I am thrilled to be in on the ground-floor of yet another chapter in Connect2One's successful history," said Haerr. "The integration of the buying group is an exciting opportunity to leverage Connect2One's strengths to support the mission of indiCo and truly make a difference for independent stores."
Mark Palmore, Connect2One's former executive director who is staying with Nebraska Book Company, was equally upbeat about the change in ownership, noting that as Connect2One transitions to indiCo ownership "I am confident that the buying group remains in great hands. Its new leadership is uniquely qualified to lead the company into the future."
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