Promotional Considerations President Buys Back Company from Corporate Owner, Affiliates with iPROMOTEu
Jeffrey P. Marks, president of Promotional Considerations, along with vice president Bobby Baughan, has purchased the company back from Vanguard Industries, effective March 1. The company also announced that it is now affiliated with iPROMOTEu.
Marks started the company in 1984, and sold it to San Diego-based Vanguard in 2006, but continued as president.
"I had owned the business previously, and we sold it to Vanguard Industries in 2006, and have been part of Vanguard for 11 years," Marks said. "We started talking about six months ago about maybe us separating, going our separate ways. It was a very amicable situation. And the opportunity was presented to me that [if] I was interested in purchasing the business, they would entertain an offer, and we reached an agreement."
Marks and Baughan had met with Ross Silverstein and Rick Badiner of iPROMOTEu during the PPAI Expo in Las Vegas this year, and the two were impressed by what Badiner and Silverstein had to offer.
"It gives us an opportunity to concentrate on some marketing options more," Baugahn said. "Maybe not have to worry about day to day stuff as much, because [iPROMOTEU] will be helping us with back door efficiencies and things, too. So we want to take advantage of their marketing expertise, as well."
Silverstein and Badiner came to Promotional Considerations' Richmond office to speak with the staff, and Marks said that the staff was impressed and excited with what they had to offer.
In this new phase of the company's history, Marks said the primary plan is to "do what we do well, and that's sell promotional products.
"We were part of Vanguard for 11 years, and they were extremely good to us," Marks added. "We wish them nothing but the best. They were an important part of our growth for 11 years, and we would be remiss if we didn't recognize them for their support."
Financial details were not disclosed.
For more information on Promotional Considerations, visit www.promoconsiderations.com.