Virginia Ts Merges With Heritage Sportswear
Financial Terms Of Deal Were Not Disclosed
CounselorTop 40 supplier Virginia Ts (asi/93917) and Ohio-based Heritage Sportswear (asi/60582) have merged operations, the companies have announced. Financial terms of the deal were not disclosed. The merger follows the 2012 purchase of Virginia Ts by Chicago-area investor Donald Schumacher, who also owns Heritage. "We'll be able to offer more styles, more colors and we'll be able to ship quicker," says Cindy Sims, public relations and promotions manager for Heritage. "We're extremely happy about the merger and we think this will be really good for the industry."
According to Sims, both Heritage Sportswear and Virginia Ts will retain their corporate names and sales teams. Jay Frink, a Virginia Ts executive, has been appointed president of the merged company, while Heritage's Jon Hays has been elevated to the position of executive vice president and general manager.
Although the merger was just announced to customers near the end of December, the two suppliers have been collaborating on several projects for some time, including the design and production of a combined 2013 catalog. The companies' staffs, Sims says, will also share space at industry trade shows this year, giving the suppliers' lines greater visibility at 60 events across the U.S. Additionally, the merger will allow the companies to ship from four different warehouses, located in Indiana, Ohio, Virginia and Florida. "We'll be able to provide a great one-day ship zone," Sims says.
Sims declined to provide 2012 revenues for either Heritage Sportswear or Virginia Ts, but did say sales at both companies increased last year. Virginia Ts is ranked by Counselor as the 22nd largest supplier in the industry, reporting 2011 North American ad specialty sales of $58.9 million.