Word: collaro
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Dates: during 1960-1960
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Magnavox acquired 70% of the stock of Collaro Ltd., British manufacturers of record changers used by Magnavox. The move's real importance is that the rest of Collaro's stock is held by Great Universal Stores Ltd., biggest retail and mailorder chain in Britain (2,700 stores, 34,000 door-to-door salesmen). With this readymade sales organization, Magnavox will distribute its own British-made TV sets, radios and phonographs. Says President Frank Freimann: "We're ready to expand. This gives us a real springboard to move fast into the English market...
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