Fey Promotional Products Group (asi/54040) announced today that it has signed a letter of intent with Wilson Tool International Inc., parent company of Molenaar LLC (asi/71980) to acquire the assets of Molenaar (Mi-Line.) Financial terms of the transaction were not disclosed, but the deal is expected to close in June.
The acquisition brings together two Minnesota-based suppliers. "I'm very excited about the acquisition of Molenaar and its potential for our family business. With both of our firms being Minnesota based, we know each other very well. The addition of injection molding brings a broad product line with no overlap to our current products of Fey-Line or Reflectix by Fey," said Mike Fey. "Molenaar also expands the depth and breadth of our U.S.A. made promotional products."
The acquisition expands Fey's growth strategy, as it previously purchased Reflectix (asi/81233) in 2009. Follow Counselor PromoGram on Thursday for more details on this deal.