Corporate Imaging Concepts Acquires eCompanyStore
Corporate Imaging Concepts (CIC), Northbrook, Ill., has acquired eCompanyStore, Alpharetta, Ga., creating what CIC called one of the largest promotional products distributors in the country serving major local brands, according to the Atlanta Business Journal.
"Growth through strategic acquisitions is a key pillar of our strategy," CIC CEO Bob Herzog told the Atlanta Business Journal. "We are quite impressed with the eCompanyStore team, technology and customer loyalty. The combined entity will have incremental scale that will enable further investment in innovation and technology, both of which are transforming our industry and driving customer success."
The merger was effective April 30, but financial details of the transactions were not released.
eCompanyStore ranked No. 33 on our 2017 Top 50 Distributors list with 41.25 million in 2016 promotional products sales. The distributor did not report financial details for our upcoming 2018 list, likely due to the pending acquisition. Corporate Imaging Concepts was acquired by a private equity firm in May 2016.
Last year, in an interview just after he was named CEO of Corporate Imaging Concepts, Herzog hinted at plans for the distributor's growth. "There were other opportunities that I looked at, and the reason I came here is because I think CIC has the opportunity to make a big difference in the industry," he told Promo Marketing. "... It's maybe a little early to get into details. We expect to significantly grow this company over the next three to five years."
Walt Greer and Jay Flowers founded eCompanyStore in 1994. According to the Atlanta Business Journal, the company reported $38.5 million in sales in 2015.
We'll continue to follow this story as it develops.
For more information on Corporate Imaging Concepts, visit www.corp-imaging.com.