DezineCorp Acquires Candec
Financial Terms Of Deal Not Disclosed
Supplier DezineCorp Inc. (asi/49529) has announced the acquisition of all operating assets of Candec, a Calgary-based firm that provides drinkware and gift options for promotional decorating. Financial terms of the deal were not disclosed. "We look forward to working with Candec's customers and providing solutions to their promotional needs," said Paul Bami, president and CEO of DezineCorp. "We strive to deliver great service, a range of unique products and competitive delivery options to all customers across Canada."
According to Bami, DezineCorp purchased the operating assets of Candec, including inventory, machinery and customer files. He believes that Candec's line of ceramics and glassware particularly complements DezineCorp's existing offerings.
"With Candec closing its doors, we felt DezineCorp was strategically suited to expand our offerings to our established network in the West,” said Bami. "We hope to quickly be able to serve the Western distributors by providing access to the artwork, product selection and service they have previously relied on Candec to provide. Our operations in Toronto are well equipped to make this transition quickly and effectively. We carry similar product lines and have the inventory ready to respond."
DezineCorp Inc. is based in Mississauga, ON, and specializes in the decoration of drinkware, paper cubes, and leather products for travel, business and leisure. While Bami did not provide specific sales numbers for 2013, he says DezineCorp has positive momentum. "It's no secret 2013 has been a tough year for suppliers in the promotional products industry," said Bami. "We are pleased to say our sales have been on track and can report growth in several regional areas. We will continue to be responsive to the promotional decorating needs of our customers."