BAMKO, The Branding Division of Superior Group of Companies, Acquires Gifts By Design
February 01 2021 - 8:01AM
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 industry, and gives us a platform upon
which to build the best and most technologically advanced Awards,
Incentives, and Recognition solution in the entire industry,” said
Stone. “What excites me most is the opportunity to become part of
such a positive, enthusiastic, and hard-working team. BAMKO’s
culture of empowering individuals to relentlessly pursue personal
and professional growth is something truly special. We’re excited
to partner with BAMKO and build something special here.”
“Jamie and her team have built an exceptional
culture that we think will fit right in with the special group we
have here at BAMKO,” said BAMKO President Phil Koosed. “By joining
forces, both companies will immediately become better with
increased capabilities and product offerings. We are adding talent
and proven leadership whose positive impact will reverberate
throughout the entire organization. Our employees and clients will
benefit substantially from the opportunities that this acquisition
creates, and we cannot wait to get started,” said Koosed.
Stone will remain with the business as the President of BAMKO’s
newly-formed Award, Incentives, and Recognition Division.
About Superior Group of Companies, Inc.
(SGC):
Superior Group of Companies™, formerly Superior
Uniform Group, established in 1920, is a combination of companies
that help our customers unlock the power of their brands by
creating extraordinary brand experiences for their employees and
customers. We provide customized support for each of our divisions
through our shared services model.
BAMKO® is the signature promotional product and branded
merchandise arm of Superior Group of Companies™. We provide unique
custom branding, design, sourcing, and marketing solutions to some
of the world’s most successful brands.
Visit www.BAMKO.net for more
information.
Contact:
Joshua White OR Hala Elsherbini
SVP Strategic Partnerships Senior Managing Director
BAMKO Three Part Advisors
(310) 470-5859 (214) 442-0016
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