News May 01, 2024
PromoCentric Projects $25M in 2024 Sales Following Acquisition
The New Hampshire-based distributorship has purchased New Jersey-based Glazer Promos.
PromoCentric (asi/300644) says it’s expanding its presence in the Northeastern U.S. – and with that, overall company revenue.
The Newmarket, NH-based promotional products distributor announced this week that it has acquired Mahwah, NJ-based Glazer Promos (asi/208261). Financial terms of the deal were not released, but PromoCentric CEO Justin Gray told ASI Media that combined revenue for the now-united firms is expected to track toward $25 million in 2024.
Justin Gray, PromoCentric (asi/300644), and Trish Glazer, Glazer Promos (asi/208261)
The move follows a 2022 acquisition that saw PromoCentric buy fellow Granite state distributorship Northeast Creations. Building on that, the purchase of Glazer Promos “strengthens and solidifies PromoCentric’s position as a leading promotional product provider in the Northeast,” the company said.
Trish Glazer, CEO/owner of Glazer Promos for more than 20 years, is coming aboard at PromoCentric.
Gray said the firm’s in-house services – including production and fulfillment – will complement Glazer’s client base immediately.
“I'm honored that Trish and the entire team at Glazer Promos have chosen to join forces with PromoCentric,” said Gray. “We've admired their reputation for exceptional service. Our businesses are perfectly aligned.”
Glazer said that “combining resources allows us to provide our clients with a truly comprehensive solution, deeper industry expertise and a streamlined approach. We look forward to working with the PromoCentric team to continue delivering exceptional service and innovative promotional solutions.”
PromoCentric is in its 24th year of business. The company’s capabilities include on-site decoration and a full-service fulfillment and kitting center.
While mergers and acquisitions in the promotional products industry slowed considerably in the latter half of 2023 amid inflation concerns, high interest rates and economic doom-soothing, M&A activity has begun accelerating again.
Other recent high-profile deals include HALO Branded Solutions (asi/356000), the second-largest distributor by revenue in promo, acquiring Star Promotions (asi/334909), a distributorship based in Jackson, WI. Another: Top 40 supplier Showdown Displays (asi/87188) acquired well-known hard goods supplier AAA Innovations (asi/30023) in April.