Non-Profit Firm Acquires Distributor
Financial Terms Of The Deal Were Not Released
Middleton, WI-based distributor Top Promotions (asi/345403) has been acquired by non-profit organization Industries for the Blind Inc. – Milwaukee (IB Milwaukee), the two companies announced yesterday. While financial terms of the deal were not released, current management as well as all staff from Top Promotions will remain in place. IB Milwaukee's mission is to provide employment opportunities to people who are blind or visually impaired. The organization does that by selling a wide selection of products, ranging from office supplies, furniture and homecare items to clothing, uniforms and promotional items.
"While we have many years of experience providing promotional products to government agencies and other private institutions, the new acquisition will allow for us to extend our promotional product sales to an even broader network of customers in corporate markets," said Chuck Lange, president of IB Milwaukee. "We see tremendous value in Top Promotions' strong brand recognition, management team and sales staff."
IB Milwaukee, which was established 60 years ago, says it intends to add 25 positions to its ranks, as a result of this acquisition and other planned sales growth at the organization. Top Promotions, which began as a t-shirt printing shop in 1983, has grown into a national screen printing, embroidery and promotional products provider. The distributor's most recent reporting to ASI's CreditConnect program shows total company annual revenues of $8.7 million.
"Our team is excited to be a part of an organization with such an honorable mission," said Craig Reisdorf, former owner and now senior vice president of the Top Promotions division of Industries for the Blind. "We have partnered with IB Milwaukee on the manufacturing of promotional products for 12 years now, and have established a great relationship with the company."
IB Milwaukee currently has 225 employees, approximately half of which are blind or visually impaired.