New York-based Souders Brand Marketing, an iPROMOTEu (asi/232119) affiliate, has acquired Visions by Phoenix. Financial terms of the deal, made public on Monday, were not disclosed. Going forward, both Souders and Visions By Phoenix will remain independent entities, but will share certain resources, including iPROMOTEu services and an art department.
“Lorene and Danielle Manning, owners of Visions by Phoenix, really matched my work ethic,” said Trish Barone, co-owner of Souders. “We both work very hard at responsiveness, customer service and creative ideas.”
To help with the transition, the Mannings will continue working with Souders Brand Marketing for a period of time. Beyond that, the Visions’ staff will be retiring. Souders and Visions, which each generate annual sales of about $1.5 million, serve similar markets like associations, education, and government.
“We expect to continue growth through referrals, direct marketing, and acquisitions that are a fit with our business model and core competencies,” said Ed Barone, co-owner of Souders. “I would expect that we will grow in the 20-30% per year range over the next three to five years.”