NBN SELLS FAITHWORKS TO STL |
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Sunday, 17 April 2005 08:00 PM America/New_York |
FaithWorks, a full-service distributor of Christian products, will be sold to STL Inc., the American subsidiary of Send the Light Ltd. of the United Kingdom. According to the National Book Network (NBN), current parent company of FaithWorks, the acquisition will take place on May 31. Larry Carpenter, general manager of FaithWorks, will remain as an executive with the company and will become senior vice president of STL. NBN hired Carpenter, former Spring Arbor president and CEO, to create FaithWorks in 2000. He was joined by Dave Troutman, also a former Spring Arbor executive. Troutman also will remain as a senior executive with FaithWorks.
FaithWorks distributes products from more than 300 small- and medium-sized Christian publishers and music labels, allowing retailers to consolidate their orders, receive fewer large shipments and minimize their accounts payable. According to FaithWorks, its 40-member sales staff gives publisher clients access to wholesalers and Christian and general booksellers. Shipping and returns process will move from NBN's Pennsylvania warehouse to STL's warehouse in Waynesboro, Ga.
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