LifeWay to acquire regional chain Berean‘s 17 store locations |
Written by Jeremy Burns & Eric Tiansay |
Thursday, 05 September 2013 04:35 PM America/New_York |
New deal enables Southern Baptist chain to serve new markets and boosts total stores to 180 locations in 28 states LifeWay Christian Stores has begun the process of acquiring Berean Christian Stores, a 17-store regional chain. Berean’s stores are located primarily in California, Arizona and the Midwest with corporate headquarters in Cincinnati. “This is a tremendous opportunity,” said Thom S. Rainer, president of LifeWay Christian Resources, parent company of LifeWay Christian Stores. “Berean, like LifeWay, is known for their commitment to serving church customers. This acquisition will significantly increase LifeWay’s opportunities for ministry across the country.” LifeWay currently owns 163 stores in 26 states, and will increase to 180 stores in 28 states after finalizing the acquisition. Tim Vineyard, president of the LifeWay Christian Stores division, said his staff are eagerly looking forward to serving customers in the new markets. “Berean’s mission and product mix are generally very compatible with LifeWay’s, although, of course, we will be making some changes in keeping with our current standards,” Vineyard said. Berean Christian Stores was started in 1934 and purchased by Joseph and Deanna Gimelli in 2009. “Berean’s corporate and local store staffs have been excellent partners in selling B&H Publishing’s books and Bibles,” Vineyard said. “If the acquisition goes as planned, we’ll have 17 more stores for all of LifeWay’s Bible studies, church supplies and other resources.” Along with LifeWay stores, B&H Publishing Group is owned by Nashville-based LifeWay Christian Resources. “This will be good for both parties involved,” said Bill Nielsen, former COO of Berean and former top executive at LifeWay. “Over the last 16 months, Berean has shown strong improvement in virtually every business metric, and with the backing of LifeWay, their stores will only do better.” Vineyard said the acquisition was to close in September, and LifeWay staff were to begin immediately transitioning the Berean locations to LifeWay Christian Stores. “Our goal is to be a one-source location with Christian resources for churches and individuals as we strive to fulfill our vision of providing biblical solutions for life,” Vineyard said. This is the latest in a series of acquisitions for LifeWay. In separate transactions this year, the Southern Baptist chain acquired Living Word Christian Bookstore in Sarasota, Fla., Johnsen & Taylor Bookstore in Wheaton, Ill., and The Salt Shaker Bookstore and Café in Wilmington, N.C. The company also announced plans to open a new store in Barboursville, W.Va., this fall. Former owners of these stores seem hopeful about the direction LifeWay will be able to take their ministries. LifeWay’s “core values and mission align with what we desire for Johnsen & Taylor, and we are excited to see this ministry continue to flourish within the LifeWay group,” said officials of Tyndale House Publishers, who partnered with South Africa-based Christian Publishing Co. to found the store in 2010. “We feel the community will be better served by being part of a larger Christian retail organization that is focused on retail and has a clear mission of bringing gospel-centered resources to local communities.” —Burns and Tiansay |