HUB Promotional Group Acquires Origaudio In Second Acquisition Announced This Week
HUB Promotional Group, Braintree, Mass., announced today the acquisition of Origaudio, Fountain Valley, Calif. HUB Promotional Group is now up to seven suppliers, this deal coming just two days after HUB announced its acquisition of Montreal-based BCG Creations.
The Origaudio acquisition is big for HUB. The company is only nine years old, and has already been included on Time's "50 Best Inventions of the Year" list, appeared five times on the Inc. 5000 list of fastest growing companies (including this year's list), won Entrepreneur Magazine's "Entrepreneur of the Year" award and appeared on ABC's "Shark Tank."
Jason Lucash will retain his role as president of Origaudio, and will additionally serve as senior vice president of marketing and product for HUB. Origaudio's chief operating officer, Mike Szymczak, will also serve as HUB's vice president of business development. HUB said in a press release that Origaudio's existing leadership team will be retained.
"We are thrilled to partner with Origaudio and excited to welcome Jason, Mike and their entire team to HUB," Joe Fleming, CEO of HUB Promotional Group, said in a press release. "The Origaudio team has worked very hard to consistently deliver innovation and value to their customers, and their rapid growth and recognition in the industry speaks for itself. We look forward to making the trendsetting and industry-leading Origaudio line available to our entire North American customer base. Building on the foundation created by Hub Pen Company and our partnerships with Beacon, Best Promotions, Cooler Graphics, Debco and BCG, the addition of Origaudio to the HUB family of companies enables us to expand our product lineup and become the leading hard goods supplier in the promotional products industry."
"It was very important that we add a partner that can help fuel our rapid growth, enabling us to continue making awesome happen," Lucash said. "Myself, Mike and the rest of the Origaudio team are thrilled to gain a partner that shares our values and is committed to new and innovative ways of doing business. HUB provides us with a powerful North American distribution network, expanding our reach and delivery capabilities. As [senior vice president] of marketing and product for HUB, I am very excited to enhance the HUB brand and product offering, and make awesome happen for each of the HUB companies and our customers."
Financial details of the acquisition were not disclosed.