The management team of Diamond UK has successfully completed a buyout of the company, securing its future and separating it from its former American parent, Diamond Comic Distributors, which recently filed for Chapter 11 bankruptcy.
The move solidifies a key distribution channel for comic books and manga in the UK and Europe. For years, Diamond UK has been a critical logistical hub, consolidating orders and providing a local warehouse for North American publishers. This has been the case even after its parent company in the US faced financial turmoil, with most publishers sticking by the British arm due to its reliability and consistent payments.
In a letter to retailers, the new owners acknowledged the challenges of recent years, including the significant hurdle of the US bankruptcy. They stated, “it’s down to your constant unwavering support that helped us make the decision to proceed with the MBO.”
While the buyout brings stability, the company faces existing issues. Retailers have voiced concerns over shipping delays, with titles from major publishers like Image Comics now regularly arriving two weeks late. There are also growing questions about the significant price difference between the US dollar cover price and the final sterling price on British shelves.
The new management has signalled its intent to tackle these problems, asking for patience “while we look at what needs to be done and the best way of implementing them.”
The buyout has received strong endorsements from major publishers. David Gabriel, VP of Comic Sales and Content Planning at Marvel Comics, commented,
Diamond UK has been an important long-term retail partner with Marvel, and we’re thrilled to hear they’ll be moving forward… We look forward to continue working together to serve comic shops and fans.”
Similarly, Tim Wilkes of Kodansha Europe expressed his support, noting their partnership with Diamond UK had led to
5 years of unprecedented growth.” He added, “The professionalism of Diamond UK during this difficult period has been exemplary… We are therefore delighted that we will continue to work with Diamond UK going forward.”
In a positive sign of returning confidence, the new Diamond UK team announced that publisher TwoMorrows, which had previously left, would be returning to its distribution services. This contrasts with Mad Cave Studios, which pulled out entirely, and newer publishers that have opted for alternative distributors like Lunar from the outset.
