Brown & Bigelow Acquires CPI Promotions
Financial Terms Of Deal Not Disclosed
As Counselor first reported this week, Top 40 distributor Brown & Bigelow (asi/148500) has acquired Milwaukee-based Caliendo Promotions & Incentives. Financial terms of the deal, which was made public yesterday, were not disclosed. Moving forward, CPI will retain its name and formally be called CPI Promotions, a division of Brown & Bigelow.
“CPI brings a roster of Fortune 500 clients,” said William D. Smith, Jr., president of Brown & Bigelow. “We are very excited to have an organization with the creativity and reputation of CPI Promotions join the Brown & Bigelow family.”
Per the terms of the deal, Cary Caliendo will maintain his position as president of CPI Promotions. Founded in 2002, CPI has focused on acquiring large national accounts and has served clients like MillerCoors, Kohler and Dish Network.
“I started CPI with the goal of being the most unique hybrid company in the industry,” said Caliendo. “Our unique services and creativity allowed us to land some of the top premier branded companies in the world. When the opportunity arose to partner with a powerhouse like B&B, the first thing I thought was how great this partnership would be for our clients. The blend of professionals and fun personalities at Brown & Bigelow is a perfect fit.”
Ranked by Counselor as the 27th largest distributor in the industry, Brown & Bigelow reported 2012 North American ad specialty sales of $60.8 million, a year-over-year rise of 0.5%.