News May 16, 2019
Grossman Marketing Group Subsidiary Acquires Suncoast Print Solutions
Promotional products distributor Grossman Marketing Group has now made five acquisitions since 2013.
Grossman Marketing Group (asi/215205), a $35 million Massachusetts-based distributorship that counts the Boston Celtics, Zipcar and CVS among its household name clients, has made its fifth acquisition in six years.
Announced Thursday, the deal sees Manchester, ME-headquartered Premier Marketing Group (PMG), a division of Grossman, purchase Suncoast Print Solutions of Sarasota, FL. Financial terms of the deal were not released.
In a statement, PMG Founder/President Mike Whitman said Suncoast Print Solutions, a print and promotional products company with a national client base that includes the Baltimore Orioles and Hyatt Hotels, will complement Premier’s product line and provide access to key national and Florida-based clients.
“Obviously, I am very excited to have Suncoast on our team,” said Whitman, noting that Suncoast has a successful 25-year history.
Whitman (inset), now a Florida resident, initially inquired about acquiring Suncoast five years ago, but it was this spring that discussions with Suncoast Owner/President Diana McGinty led to a deal. Poised to retire after 15 years at Suncoast’s helm, McGinty said she’s confident PMG/Grossman are the perfect fit for her clients.
“Grossman’s commitment to customer service and quality products is well known to its clients, including the Boston Celtics, Zipcar, CVS, Columbia University, University of Tampa, the Cleveland Clinic and many more,” said McGinty. “They will offer our customers added value in the fields of print production, artwork capability, custom-design web stores, branded merchandise and fulfillment.”
Ben Grossman, co-president of Grossman Marketing Group with his brother David, said Suncoast “fits in nicely with our growth strategy and our existing products and services, which include full-service graphic design, a network of company-owned distribution centers, multi-media solutions, and a dedicated technology team building best-in-class e-commerce programs for our clients.”
A 109-year-old, fourth-generation promotional products and print company headquartered in Somerville, MA, Grossman Marketing Group acquired Premier Marketing Group in 2017. Since 2013, Grossman has also acquired Logos In Print (2018), a New-York based promotional products distributor; Fleet Business Products of East Hartford, CT (2015); and ASAP, a Norwalk, CT based promotional products company.
In 2018, Grossman Marketing Group’s total revenue was up about 8.5% year-over-year to approximately $35 million, company executives told Counselor. It wasn’t clear how much revenue Grossman expects Suncoast to add to the company books in 2019, but Grossman is pushing closer to Top 40 distributor territory. On Counselor’s 2018 list of the 40 largest distributors by revenue in the industry, the 40th spot was occupied by Quality Logo Products (asi/302967) on 2017 North American promo product revenue of $42.6 million. This year’s list is due out in July.