InnerWorkings Acquires U.K. Distributor
Part Of Expanding Push Into European Market
Part of an expanding push into the European market, Top 40 distributor InnerWorkings (asi/168860) has acquired Merchandise Mania, a United Kingdom-based merchandise distributor. The acquisition, terms of which were not released, was announced this morning. Executives at InnerWorkings say the deal will help the Chicago-based distributorship bolster its product and service portfolio in Europe.
"The inclusion of Merchandise Mania to the InnerWorkings structure enables an increased supply of innovative, quality print, POS and promotional services within Europe," says Simon Dipple, managing director of InnerWorkings U.K. "The acquisition brings together some of the best talent and technology to further extend our outsourced solution."
Merchandise Mania is one the UK's leading providers of outsourced solutions within the corporate promotional merchandising sector. With annual turnover in excess of £6 million ($9.6 million) in 2011, the company currently supports campaigns throughout dozens of countries in Europe and Asia Pacific for clients operating primarily within the financial, manufacturing and information technology sectors. The business employs 33 staffers.
"The synergy between our two organizations was immediately obvious and the combination of InnerWorkings' expertise and its complementary services will provide significant benefits to existing clients," says Simon Patnick, managing director at Merchandise Mania. "Our management team is looking forward to providing them with the continuity of service they have come to expect from us, combined with the new opportunities this relationship affords."
Employing 1,200 people and maintaining 44 global offices, InnerWorkings ranked 13th on Counselor's 2012 list of Top 40 distributors, with reported North American ad specialty revenues of $105.3 million in 2011. The company's revenue has increased 26.9% over the last five years, with a 17.3% spike recorded last year over 2010.