Phoenix-based investment firm Najafi Companies, which bought the ailing North American Direct Group assets (including book club giant Bookspan, along with Columbia House) from Bertelsmann in 2008, has gone back for a second helping. Najafi is also buying DirectGroup France, Belgium, Switzerland and Quebec. Called “a billion-dollar, top-line” business, terms were not disclosed for the deal, expected to close by the end of May. Najafi will continue to operate the Paris-based unit separately, under current management, and intends to “invest significant capital into growing DirectGroup over the next several years, including strengthening its book club model, travel and financial services, […]
