Sunscope Enters Deal To Manage Camsing Brands
Adva-Lite, Avaline, Drinx Among Brand Names
As first reported in a Breaking News Alert yesterday, Top 40 supplier Sunscope (asi/90075) has entered into an agreement with the new owner of the assets of Top 40 supplier Camsing Global (asi/43668) to manage the Camsing supplier brands.
Equity company Capital Supply Group, which two weeks ago signed an agreement to purchase the assets of Camsing, has now entered into a deal that will result in Sunscope managing the former Camsing brands Adva-Lite, Avaline, Dart Business Accessories, Drinx, Falcon Promotional Products, It's All Greek to Me, StyleWrite and Toppers. The Sunscope management deal will become effective as soon as the Capital Supply acquisition of Camsing’s assets is closed, which is expected over the next few weeks. Financial terms of either deal were not released.
“I am very impressed with Sunscope’s global reach and their ability to help execute the organization plan for the great legacy brands,” said Dan Reeb, managing director of Capital Supply Group. “We believe that with the right partners, financial support and structure, these brands will not only be restored to greatness very quickly but will redefine what it means to be a supplier in this industry.”
Following closure of both deals, the companies say that complete details on how the brands will be managed and operated by Sunscope will be announced. Billy Dolan, former CEO of Camsing, confirmed to Counselor that he and the former Camsing management team will be joining the new organization, and he expects further news about the company’s operations to be released soon.
In the meantime, during the interim period before Sunscope officially takes over management of the brands, Capital Supply Group says the former Camsing brands can be contacted at 855-606-3079 or by email at email@example.com.
A combining of Sunscope and the former Camsing brands will create one of the 10 largest suppliers in the industry. Sunscope ranks as the 18th-largest supplier in the market, after reporting 2013 North American ad specialty sales of $91.3 million. Camsing reported North American ad specialty revenues of $44.2 million in 2013, placing it 31st in this year’s Counselor Top 40 supplier list.