Target Decorated Apparel Acquires Embroiderer
Financial Terms Of Deal Were Not Disclosed
Naperville, IL-based Target Decorated Apparel (asi/90549) has announced the acquisition of U.S. Embroidery & Monogramming, Inc. Financial terms of the deal, which was finalized on July 15, were not disclosed. "This will really help us turn projects quicker and be faster than competitors," Steve Kanney, president of Target Decorated Apparel, told Counselor. "We do a lot of screen-printing – embroidery has only been about 10% of our sales. This will balance us out and give us a chance for more business embroidery-wise."
U.S. Embroidery operates 135 heads – equipment that will eventually be transported to Target's nearby 40,000-square foot facility, according to Kanney. Larry Fisher, the owner of U.S. Embroidery & Monogramming, is planning to retire, but his staff of about a dozen employees has joined Target. "I am extremely pleased that our capabilities were a good fit for Target and I have no doubt that they will continue to provide clients with the same great quality of service that U.S. Embroidery & Monogramming has delivered throughout the years," Fisher said.
Kanney declined to provide annual revenue figures for his firm, but said he expects the acquisition to boost Target's embroidery sales by 300%-400% going forward. Target Decorated Apparel is also considering adding locations to further extend its reach to customers. "We're a pretty good national player, but it still takes a day or two to ship from here," Kanney said, "so we're looking at more facilities around the country."