Jon Levine, Jim Nathanson and Jay Nathanson, owners of The Image Group (asi/230069) and Target Marketing (asi/341741), have reached an agreement to acquire Richmond, VA-based distributor Thomas Marketing (asi/343883), effective September 1. Financial terms of the deal were not disclosed.
“This acquisition is a great opportunity for our Mid-Atlantic region,” Jon Levine, CEO of The Image Group, said in a press release. “By combining our unique strengths, buying power and client diversity, we'll be able to provide unparalleled service to our customers.”
Headquartered in both Toledo, OH, and Richmond, VA, the combined company will continue to operate under The Image Group, Target Marketing and Thomas Marketing brands. Going forward, the combined distributorship will include more than 100 employees.
“In order to provide continued opportunities for our employees and our customers, I have been open to the right growth partner who shares our core values, our passion for excellence in execution and our focus on product safety and social responsibility,” said Al Thomas, president of Thomas Marketing. “Knowing Target Marketing and The Image Group's results for the last decade made this transaction a great opportunity for us.”
The Image Group and Target Marketing merged in June of 2017. The Nathansons and Levine have known each other for about 10 years, a relationship that includes interaction through Peernet, a strategic alliance of promotional product distributors. Levine told Counselor last June that the familiarity, plus the fact that both companies were operating profitably, made the merger a smart business decision.