Polyconcept Announces Sale of ADM Business Division
Polyconcept, New Kensington, Pa., the promotional products company and parent of Polyconcept North America, announced that the management team of ADM has successfully completed the acquisition of its business. The buyout was to an investor group led by the ADM management team. The acquisition did not involve taking on any new debt and the investors have injected new financing to support the development of the business.
"This is a very exciting development for ADM. We are fortunate to have a stable business platform, the best people in our market and a global infrastructure we can build on," said Justin Barton, CEO of ADM. "As a standalone business we will have flexibility and focus to continue the development of our capabilities to better serve our clients."
"We are very excited for Justin and the management team as this represents a great opportunity for both parties," added Michael Bernstein, Polyconcept CEO. "Polyconcept can now focus on its core supplier business while ADM will have the freedom to grow with key accounts in our core geographies."
For more information, visit www.polyconcept.com.