Business
BAMKO, The Branding Division of Superior Group of Companies, Acquires Gifts By Design
LOS ANGELES, Feb. 01, 2021 (GLOBE NEWSWIRE) -- BAMKO®, LLC, the promotional product and branded merchandise arm of Superior Group of Companies, Inc. (NASDAQ:
About this update from Superior Group Of Companies, Inc.
[{"type":"text","content":"LOS ANGELES, Feb. 01, 2021 (GLOBE NEWSWIRE) -- BAMKO®, LLC, the promotional product and branded merchandise arm of Superior Group of Companies, Inc. (NASDAQ: SGC), today announced that it has acquired substantially all of the assets of Gifts By Design, Inc. (“Gifts by Design”) of Seattle, Washington. The transaction closed effective as of February 1, 2021. Gifts By Design is a promotional products and branded merchandise agency that has established itself as an industry leader in developing corporate awards, incentives, and recognition programs for some of the world’s biggest brands. Gifts By Design delivered approximately $18.2 million in revenue in 2020 and is expected to be accretive to SGC’s fiscal year 2021 operating results. Gifts By Design will operate as the Awards, Recognition, and Incentives Division of BAMKO. “The acquisition of Gifts by Design immediately positions BAMKO to become an industry leader in corporate awards, incentives, and recognition programs,” said Jake Himelstein, Chief Operating Officer and Chief Financial Officer of BAMKO. “This acquisition will provide BAMKO with the opportunity to develop the Awards, Incentives, and Recognition program vertical across our existing portfolio of clients and leverage our salesforce to extend that vertical to future clients. We also have an immediate opportunity to extend the unique suite of capabilities and services that only BAMKO has to offer to develop new verticals across Gifts By Design’s existing customer base. In so doing, we will be able to strengthen and deepen those client relationships and expand our sales footprint with them,” said Himelstein. “Joining forces with BAMKO is not a decision we arrived at lightly,” said Jamie Stone, President and Founder of Gifts By Design. “I’ve known the BAMKO team for years. As I’ve watched their growth and success in recent years, it became clear that BAMKO is something very different from the rest of the industry. BAMKO has distinguished itself with its unmatched technological capabilities, an award-winning creative team, an incredible overseas sourcing operation, and an unparalleled ability to win and service major program business for the world’s biggest brands. Joining forces with BAMKO creates incredible opportunities for our employees, offers our clients access to the most impressive set of capabilities in the indus...