Florida-based Superior Uniform Group (asi/339857) has announced that its BAMKO (asi/131431) division has purchased Los Angeles-based Public Identity Inc. Financial terms of the deal, which closed on August 21, were not disclosed, although Superior said it expects the acquisition to add about $6 million in annual revenue to BAMKO. Moving forward, Public Identity will operate as a division of BAMKO.
“The acquisition of Public Identity by BAMKO results in a union that will make our combined entity a force to be reckoned with in the collegiate licensing space,” said Philip Koosed, president of BAMKO. “Over the years, Public Identity has held a well-earned reputation for its ability to provide high-quality and innovative collegiate licensed products to college fans and consumers across the country. The opportunity to leverage Public Identity’s expertise and reputation in this space and support it with BAMKO’s award-winning creative, sales, programming and fulfillment solutions was too great to pass up.”
A branded merchandise agency, Public Identity has an extensive portfolio of large collegiate clients from across the country. The firm serves several schools in Florida and California, including the University of Tampa, Florida Institute of Technology, Florida International University, the University of California and Stanford University. The firm’s founder and president, Leland Felsenthal, will remain with the business in the official role of president of Public Identity, a division of BAMKO.
“BAMKO is unlike any other company in the promotional products industry,” said Felsenthal. “BAMKO’s capabilities in technology, global sourcing, creative and fulfillment help to set them apart from the competitors in our space. We are very excited to introduce our customers to everything that working with BAMKO has to offer.”
Superior Uniform recently reported total 2017 Q2 sales of $65.6 million, a year-over-year increase of 1.5%. Its 2016 net sales were $252.6 million, a year-over-year rise of 20.1%. Since acquiring BAMKO last year, Superior’s leadership has continually expressed interest in further purchases. Said Koosed: “We are pleased to complete our first acquisition as a part of the Superior family and look forward to reporting on additional acquisitions in the future.”