Staples to Acquire Accolade Promotion Group
Staples Inc., Framingham, Mass., has announced the acquisition of a Canadian promotional products distributor.
Staples has reached an agreement with Golf Town Canada Inc. to acquire Vaughn, Ontario-based Accolade Promotion Group, a division of Golf Town Canada, Staples announced today. Terms and conditions of the deal were not disclosed.
“The acquisition will further Staples’ ability to bring customers a strong brand partner with a broader offering in Canada,” Steve Bussberg, senior vice president for Staples Advantage, who also is responsible for Staples Promotional Products, said. “APG’s vast experience serving customers in the financial, and oil and gas industries will complement our strengths in the automotive, manufacturing and consumer goods industries.”
Accolade, established in 1963, had 170 employees in 13 locations at the time of the acquisition. The distributor reported $75.7 million in promotional product sales for 2014. When the deal closes, Accolade will become part of the Staples family, as will Dan Craig, Accolade's managing director, who will serve as managing director for Staples Promotional Products Canada. Currently in that role for Staples, Pam Westman will lead the integration of the acquisition and spearhead global expansion for Staples Promotional Products.
“We are looking forward to joining forces with Staples to more effectively deliver a great customer experience,” Craig said. “The acquisition will allow us to expand our global reach and extend the benefit of significant investments in technology, compliance and supply chain.”