BIC Graphic USA Completes Acquisition of Norwood Promotional Products

BIC Graphic USA, based in Clearwater, Fla., announced it has completed the acquisition of Indianapolis-based Norwood Promotional Products. The newly formed subsidiary will conduct business as Norwood Promotional Products LLC, a wholly owned subsidiary of BIC USA Inc.

Total consideration for the acquisition was $125 million, plus approximately $37.5 million in assumed liabilities. “Norwood and BIC are similarly aligned in mission, values and culture,” said Paul Lage, president of Norwood Promotional Products. “We look forward to the new opportunities afforded by their ownership. These are exciting times.”