BDA and BrandVia Call Off Acquisition Citing Unresolved Terms
Bensussen Deutsch & Associates LLC (BDA) announced that it will not go through with its acquisition of BrandVia as reported last month. BDA said in a statement today that both companies came to an agreement that they did not meet the final terms required to complete the acquisition, and have agreed to end discussions and resume business as individual companies.
"We have the utmost respect for each other and the respective teams," Jay Deutsch, CEO of BDA said in a statement.
"Jay and I remain the best of friends, and they have built an amazing organization at BDA with a great group of people," Jim Childers, CEO of BrandVia said.
The acquisition positioned BDA to gain a stronger foothold in Silicon Valley, thanks to BrandVia's Bay Area location. BrandVia boasts big-name clients in that space, such as Facebook, Adobe, Oracle and Salesforce.
In exchange, BrandVia would have been given access to BDA's international fulfillment and supply chain capabilities, e-commerce solutions and more.
Both companies ranked in the top 25 on Promo Marketing's 2019 Top Distributors list, with BDA coming in at No. 3 and BrandVia at No. 24. Combined, the two distributors 2018 sales would have totaled $506.9 million.