PremiumPromo Acquires NPI
July 1, 2010
New York-based supplier PremiumPromo USA (asi/79372) has acquired the line name from financially-distressed New Products International (formerly asi/73780), which is closing its doors after 34 years in business. Financial terms of the deal were not disclosed, but the companies have announced that PremiumPromo will now exclusively supply all NPI brands, including its patented Hawk line of lighted magnifiers. "When people want to give a nice gift that's a little more prestigious, I want them to think of us," says Guy Jacobs, owner of PremiumPromo. "I don't want to be a pencil and pen supplier. We're going to offer a higher-end line of products to the industry."
Founded in 2004, PremiumPromo joined the ad specialty industry last year and is currently negotiating to expand its promotional offerings. The company is in discussions to allow it to offer brands like The Sharper Image and the George Foreman Grill, as well as labels like Seiko, Movado, Bushnell and Bulova. "We expect to close these deals in the next two weeks," says Jacobs. "I want people to know that everything we offer will be done in-house, including printing."
According to Jacobs, the staff at PremiumPromo is currently working to update the company's website and create a print catalog. "We hope to have a catalog within one month," Jacobs says.