K&R Precision Acquires Promobilia
K&R Precision, Cheektowaga, N.Y., announced that is has acquired supplier Promobilia. K&R Precision, which operates out of Canada under the name ESP, said the acquisition was effective as of April 9. Terms of the deal were not disclosed.
"The fit and culture between the two companies will make for a very positive experience for our valued customers going forward," said Merrick Falkenstein, president and founder of K&R Precision. "I was impressed with the professionalism and product knowledge the Promobilia staff has acquired. We continue to pursue our number one goal which is to better service you our valued customer."
K&R Precision acquired 50 percent of a bag manufactruing facility in China in November 2012, and said this week's news would further increase its product selection. The Promobilia offices will remain in British Columbia and will maintain the same contact information. K&R Precision said that key company employees will also remain on staff following the transition.
Paul Kan Lum, owner of Promobilia, said his decision to sell was based on his desire to exit the promotional products industry and pursue other business interests. "We approached ESP as I was impressed with their operations," he said. "We share the same culture and philosophy of building a solid team, being honourable, with first class professional customer service. ESP fits all I was looking for."
For more information, visit www.k-and-r.com.