ASB Acquires Cannon Advertising Specialties
Financial Terms Not Released
Top 40 distributor American Solutions for Business (ASB, asi/120075) has acquired Cleveland-based firm Cannon Advertising Specialties Inc. (asi/156650). Financial terms of the deal were not released, but Cannon’s staff will now be operating under the ASB umbrella.
“We’re pleased to welcome the Cannon group to the American family,” said Justin Zavadil, executive vice president at ASB. “Like us, Cannon has built its business and reputation through strong relationships, creative solutions and quality service.”
Cannon was founded in 1982 as a division of a full-service ad agency, and has become a vendor for clients in the Cleveland area, as well as throughout the U.S. and overseas. Operating out of a 1909 school building on, Cannon has renovated its facility to display 10,000 products in eight unique ‘classroom’ areas. The showroom will now serve as a home for ASB’s recruitment efforts as the company looks to expand its footprint in the Cleveland market.
“Our team is pleased to become part of the American family,” said Ross Salupo, owner of Cannon. “Under their umbrella, we will have access to tools and resources we never could have obtained on our own, and we’ll be able to offer a wider range of products and services than ever before.”
This is the second recent deal that ASB has closed. The company acquired Nashville, TN-based Branding U. in November. ASB, headquartered in Glenwood, MN, ranks number 14 on the Counselor Top 40, after reporting 2013 North American ad specialty revenues of $103.5 million, an increase of 4% from 2012.