Newtech Holdings, a provider of computer-related services and consulting, has bought Craig Electronics, a consumer electronics company, from Nova Wildcat Fund.
Craig Electronics offers consumer technology and electronic services national big box, food and drug, club and retail distribution. The company conducts business under a portfolio of brands including Craig and Magnavox, as well as multiple private label relationships. Newtech’s senior management previously owned and operated Craig Electronics before selling the company in 2019. Newtech has also acquired distribution agreements for Philco consumer electronic products and Philips DVD players in North America.
“Newtech’s additional acquisition of exclusive distribution rights for Philco consumer electronics products and Philips DVD players in North America will provide us with tremendous brands and a product portfolio to drive growth while we look for more consumer products companies to acquire,” says Todd Richardson, president of Newtech.