AIA Corporation to Acquire Flagship Promotional Services
"We are delighted to add the Flagship network of approximately 25 affiliates to the AIA family," Woods said. "I have known Dave DeGreeff, Flagship president, for many years, and our companies have very similar cultures and values. We believe this is a great addition for us, and gives us much greater presence in the rapidly growing Southwest."
Flagship president Dave DeGreeff stated, "I have always had the utmost respect for David Woods and AIA. Their business model shows the same respect of the industry distributors and suppliers that we have practiced at Flagship. This will ensure the Flagship distributors the same kind of personal service and attention that they have received from Flagship during the past seven years."
AIA Corporation had approximately 320 franchisees and sales affiliates before this acquisition, and reported sales of $108 million in 2010. It has experienced significant growth in the past two years, and this acquisition is expected to accelerate that growth. DeGreeff will become an executive at AIA, initially charged with integrating the two companies.
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