Completing its third acquisition in the last four years, Denver-based Specialty Incentives (asi/331870) has announced the purchase of selected assets of Somethin' Special Candy Plus (SSCP). Financial terms of the deal, which was completed on June 15, were not disclosed. "As companies we share the same values, so there was a natural attraction," said Bob Davis, owner of Specialty Incentives. "Our expectation is that we'll be able to provide them with marketing and sales tools that will help them outdistance industry growth."
According to Davis, SSCP executives Keith and Tami Slater will maintain their office in Glenwood, CO, while joining Specialty Incentives. "They'll be our sales representatives on the western slope of Colorado," Davis said, adding that SSCP generates annual revenues of "$1 million plus." Officially, the Slaters will team with Specialty Incentives on July 1.
Founded in 1981, Specialty Incentives has sales representatives in 15 states, including Colorado.
In 2010, Specialty Incentives acquired distributor firms L.W. Barrett and DeWitt, Inc. Davis says his company – which produces yearly revenues of $10 million – has increased its sales by 15% so far in 2013. "We're seeing a stronger economy and less uncertainty," he said. "It's been a strong year for us."