Promo Marketing Talks to Jason Miller, President of Corvest, Regarding Recent Acquisition by Camsing Global
With Camsing Global LLC's recent acquisition of both Largo, Florida-based Corvest (parent company of Adva-Lite, Toppers and It's All Greek To Me) and the Dallas-based Senator Promotional Group USA (consisting of Senator Writing Instruments and Dart Business Accessories) making headline news, Promo Marketing spoke with Jason Miller, president of Corvest, to inform distributors about how the acquisitions will affect them.
Miller was transparent regarding Camsing Global LLC's Chinese ties and explained the benefits for distributors. "Any time China is mentioned in our industry, it sends a ripple down everyones back," he said. "The reality of the situation is Camsing Global LLC here in the U.S. is a subsidiary of Camsing Global, China."
"The advantages to the distributor going forward are really twofold," he explained. "First and foremost, this is not a breakdown in the supply chain of us selling direct. By no means was that the intention of this acquisition. Where we see the benefits internally, we are owned by a Chinese company, we are now buying product from ourselves. So we've collapsed the supply chain on the supply side of the business, which will allow us to sell to our distributors at better prices."
"[Secondly] a lot of distributors go overseas for their large custom orders and bypass the traditional supply chain," he said. "Camsing has always been a logical solution for those distributors. Now they can do that through one of our two entities, whether that be Senator Group or Corvest. So they no longer need to add an additional layer, or vendor, into the mix. Those are really the two things that we see as bringing added value to our distributors."
The employees of both Corvest and Senator Promotional Group USA are also being accounted for in the recent acquisition. "What we have committed to is that we will have a full integretion plan for our employees within 30 to 45 days," Miller said. "The last thing we want to do is have this be a process that happens over the course of years."
At the core, Miller wanted distributors to know that it is business as usual. "Leading into Vegas and Orlando, it's a critical time of year," Miller said. "My sales forces in both locations are focused on the job at hand. It is business as usual: same account rep, same customer service rep, same phone numbers. Nothing changes. And when we do, obviously [distributors] will be the first to know. But for the month of January, its business as usual. We need to get our catalog out, our flyers out, hit these trade shows running and then roll out the integration plan."