Pia Signs With Disney

Pia Merchandising Co. Inc. has landed a five-year contract to distribute new releases from Walt Disney Co.’s Buena Vista Home Video division, the companies said Monday. The contract’s dollar value was not released, but industry analysts have described the contract as having a value of about $15 million.

Pia had hoped to sign the Disney agreement and a second, unnamed contract, several months ago, but negotiations only recently were concluded, said Clint Owens, Pia chairman and chief executive. Consequently, Owens said, Pia was “unable to record several million dollars of revenue in the second quarter.”

Owens said that, as the Disney contract is implemented, Pia “will be significantly increasing its retail staff.” At the same time, Owens said, Pia will cut an as-yet undetermined number of management positions.

Pia provides in-store merchandising and sales services primarily to manufacturers of goods sold at about 22,500 retail grocery stores and 7,500 mass merchandise stores in the U.S.