Withdraws from Industry, Pulls
Out of Shows; Spitzberg Out?
In a move the company says
is designed to exert greater
scrutiny over its distribution
chain, Coach (asi/45518)
is eliminating its special
markets and corporate gifts
“This is being done
to ensure that the company
has more control over where
Coach product is ultimately
sold,” said Andrea Shaw
Resnick, vice president of
investor relations & corporate
communications for Coach, Inc.
Resnick, who claims to have
laryngitis, was only available
to offer quotes via e-mail.
addition, Coach – a
leading sponsor of the Incentive
Marketing Association shows
in the past – has pulled
out of all events. “They
are exiting the marketplace
and have withdrawn from all
the shows,” confirmed
Karen Renk, IMA’s executive
director. Coach has pulled
out of tradeshows in the promotional
products industry as well.
to an unnamed industry source with
close ties to
Coach, the company has also dissolved
its sales force, led by Coach’s
vice president of special markets,
Paul Spitzberg, whose voicemail notes
that he is away “on an extended
absence as a result of an illness in
the family.” Calls to Carmen
Grey, the divisional vice present of
special markets, were not returned
at press time, and Resnick said “we
are not providing comments on specific
Counselor Promogram’s unnamed
source says that Spitzberg, past president
of the IMA and a member of Counselor’s
Power 50, left the company very
recently and suddenly.
New York City-based Coach was founded
in 1941 and went public in 2000. The
company employs 7,500 people, its stock
is traded on the New York Stock Exchange
under the symbol COH.
Purchased By Acquisition
As first reported in a Breaking News Alert last week, Compass Diversified Trust
announced that it has entered into a definitive agreement to purchase Counselor
Top 40 distributor Halo/Lee Wayne (asi/356000). Compass, an acquisition
and management firm that is publicly traded under the ticker symbol CODI, acquired
Halo for $62.5 million. Halo’s current management also invested in the
deal alongside Compass.
Elias Sabo, partner with Compass Group Management, says his firm was attracted
to Halo because of its position in the market.
industry has good long-term growth
prospects,” he says. “We
think Halo is ideally positioned
within that to grow even further.
The company will have access to
as much capital as it needs moving
forward to meet its goals.”
Marc Simon, CEO of Halo/Lee Wayne,
sees this deal as the culmination
of a process that started more
than four years ago when H.I.G.
Capital purchased the company
and took it out of bankruptcy. “I said at the time that if H.I.G. still
owns us in five years, then we haven’t done our job,” Simon says. “This
deal creates value for our partnership with H.I.G. and gives Halo good lines
of capital moving forward to help us continue to grow.” Simon also says
that more than $5 million is being reserved out of the purchase price to be distributed
to creditors of Halo’s Chapter 11 bankruptcy.
says he doesn’t anticipate
any management or operational changes
as part of this deal, but believes
the new line of capital will help Halo
to make its own future acquisitions. “We’re
looking at a few possibilities now
as far as acquisitions are concerned,” Simon
said. “This deal gives us the
flexibility to make further purchases.”
Halo is the second large industry
firm in the past few months to be acquired
by a public entity. Top 40 supplier
American Apparel (asi/35297)
announced a purchase agreement in December
with Endeavor Acquisition Corp. that
is scheduled to close this summer.
Simon, though, says being part of a
public company shouldn’t change
Halo’s operations. “Our
new parent company is publicly traded,
but we’re still private,” he
said. “We’re still considered
a portfolio company of a private equity
Files Chapter 11
and is Purchased
by Equity Firm
February 28, Counselor
Top 40 supplier Corvest
filed for Chapter
11 relief in the
United States Bankruptcy
Court for the District
of Delaware. As part
of the filing, the
company was purchased
by Cerberus Capital
Management, a private
equity firm whose
generate more than
$60 billion in annual
to the official Chapter
11 filing, Corvest’s
assets and certain
been sold for cash
in the amount of
$500,000 and administrative
claims in the amount
vice president of marketing,
said that the company
is filing for Chapter
11 bankruptcy protection
pursuant to Section 363.
Section 363 of the bankruptcy
code allows for the sale
of a bankrupt company
in a short period of
time and free and clear
of all encumbrances.
The asset purchase of
Corvest, which includes
divisions Adva-Lite (asi/32145),
It’s All Greek
To Me (asi/62960), and
Toppers Inc. (asi/91530),
on the heels of its bankruptcy
filing will allow the
company to function without
“Cerberus is going
to be infusing the company
with capital investment,” Holland
said. “We are being
purchased by one of the
largest and most well-funded
equity companies in the
going to mean that we
can service customers
at greater levels going
forward. It’s a
very positive thing for
all the business units,
employees and customers
ranked number 14 last
year in Counselor’s
Top 40 with $88 million
in North American promotional
products sales in 2005.
Top 40 supplier
signed an agreement
last week with Garrity
to become the exclusive
supplier of Garrity-branded
lighting products for
the promotional products
industry. As of April
2, Leed’s will
sell all Garrity-branded
within the industry,
and the deal signifies
into its 15th product
category and 12th brand
welcomes Garrity to
the Leed’s band
Jeff Brown, vice
of product development
and marketing. “These
high quality lighting
products will help
make us a leader
in the lighting
category for the
a division of The
Procter & Gamble
that it acquired
Paul Garrity, Jr.,
manager for Garrity’s
that Duracell was
going to drop the
ad specialty division
because of its
focus and emphasis
on the retail side
of the business. “I
wanted to keep
the Garrity brand
alive in the promotional
had known the guys
and that they have
a powerful sales
team, and a lot
of foresight and
products for this
industry from Duracell.
of our products
along with Leed’s
strong sales team
will result in
new sales opportunities
within the industry.”
award is the
result of the
of our entire
make a difference,” says
where it awards
a $500 in-kind
grant to a North
business day. The
company also provides
its employees with
eight hours of
paid time off to
be spent volunteering
at a non-profit
of their choice.
Named Best Uniform
was named the best uniform
supplier by Food Processing
Magazine in its 2007 “Reader’s
Choice” survey. The magazine
asked its subscribers to nominate
companies in 51 categories
across the food processing
industry. This is the fifth
consecutive year Cintas has
received the distinction of
being a “Golden Supplier.”
“Cintas credits this
recognition to its tailored
approach in serving the needs
of customers, offering specialized
services to help meet the
rigors of the food industry
Vice President and Chief
Marketing Officer Bill Goetz.
10th Annual ASI Las Vegas
Celebration Opens In Two
Monday, March 19 marks the
start of The ASI
Show Las Vegas,
the industry’s longest-running
Las Vegas event.
The three-day event, March
19-21, features The ASI Show
Education Conference (March
19), including dozens of information-packed
workshops, and two action-packed
exhibit days (March 20-21)
featuring nearly 700 diverse
suppliers introducing their
newest and most innovative
products and services for 2007.
you haven’t registered
yet, you can do so at www.asishow.com.
Don’t miss the excitement
of the 10th Annual ASI Show
Las Vegas, featuring a free Keynote presentation
by Vice President and General
of Yahoo! Small Business, Rich
exclusive tickets to the popular
LOVE by Cirque
and a private performance by
For more information about
The ASI Show Las Vegas, visit www.asishow.com or call Show
Headquarters at 877-ASI-SHOW.
Commotion Promotions Ltd. (asi/166010)
has been ranked the number one promotional
company in the state of Arizona by Ranking
Digital Art Solutions, an ASI
affiliate, announced that it
has been recognized by the Corel
Corporation with the 2006 Strategic
Partner Award for excellence
in overall sales, increasing
brand awareness and the development
and execution of the Production
Ready Art Standards.
Five Star Promotions (asi/194728)
Owner Tammy Evans was honored
with the “Volunteer of
the Year” award from the
West Jordan Chamber of Commerce.
iPROMOTEu (asi/232119) announced
that 10 distributors affiliated
with the company in January.
These 10 distributors represent
$2,500,000 in annual sales volume.
Proforma Inc. (asi/300094) co-CEO
Vera Muzzillo was named as one
of the Top 10 Women Business
Owners in Northeast Ohio by the
National Association of Woman
Business Owners of Cleveland.
S. Owens & Co. Inc. (asi/75530)
Regional Sales Manager Otis Veteto
was named Speaker of the Year
by the Award and Recognition
On The Move
Promo Shop (asi/300446) recently
hired Robert Mainthow as director of
S & S
Activewear (asi/84358) announced
the addition of Debra Steury as account
Sweda Company LLC (asi/90305) named
Joe Schembri vice president of sales
and named Scott Pearson vice president
Zagwear Inc. (asi/365552)
promoted Jamie Coogan to program manager
promoted Kim Olszewski to senior account
manager. The company has also created
a new cosmetic division and hired Heidi
Savinovich as its director of sales,
Aislinn Pizzini as its account manager,
Paula Sullivan as its senior sales
associate, Dominic Blanchard as its
art director and Samantha Wielkocz
and Mark Laqui as its sales assistants.
OF THE WEEK
- ASI/83770 - 280
vinyl document case.
This inexpensive document
case is our most popular
case. The simple design
and ample storage room
make it ideal for tickets
and travel papers. Great
for insurance agencies,
realtors, banks, law
firms, and travel agencies.
other new and creative products,
visit the Product Central section
EVANS 1st Quarter Drinkware Promotion - An Adventure in Color!asi/52840
- Soar into a whole new color stratosphere! Evans #4000 Twister Mugs are ideal for any outdoor trip or day excursion. Receive EQP on the #4000 Twister Mug � available in 15 different colors!
Best Prices on High-Quality Digital Photo Frames! asi/63053
- $89.99 / 7" LCD - $119.99 / 8" LCD - $149.99 / 10" LCD. Multimedia displays play MP3s, videos and photos directly from your digital camera's SD or xD card. High-Quality LCD screens. Call CorporateKey at 1-866-438-5655 or visit www.CorporateKey.com.
PolyPro now offers a 4 color-process Organizer/Recipe Box - ASI 78952asi/78952
- The NEW 4CP Organizer Boxes look great in any kitchen or office.View Special...
- May the Luck of the Irish Be Yours Today! Artistic Toy Mfg celebrates St. Patrick's Day with a special on Irish themed gifts. Hurry - special expires 3/15/07!View Special...
Portable Office -- USB Flash Drive + VOIP Phoneasi/62978
- Carry your office and phone system in your pocket with JAC's new USB/VOIP Drive.View Special...
Take Your Summer Overseas with Sebaasi/86043
- Seba offers Direct Manufacturing on custom caps, visors, bags, jackets, shirts and much more. We offer low minimums, Free Spec samples, Free Digitizing and Fast Turnaround. Go Custom! Go Seba! Call for details.
EQP On All Items! Pens, Highlighters, Markers, Mechanical Pencilsasi/67675
- EQP Through March 31, 2007 On ALL Writing Instruments! New Antimicrobial Highlighters, Permanent Markers, Pens, Dry Erase Markers. Mini Mechanical Pencils, Pens, Highlighters and More!!!! All the BEST Writing Instruments from Liqui-Mark!
48 Hour Service On Full Color Magnets With Biz-Mag asi/40592
- Biz-Mag has many popular shapes and sizes of magnets available. 48 Hour Service. Register on-line and check out our pricing. Yes! YOU HAVE BEEN OVERPAYING!
PLWC's Beverly Hills Bottle with Swarovski - the Perfect Promotion! asi/79349
- Whether you are celebrating, having a fundraiser or just gathering for a corporate event, our CUSTOM LABLED BOTTLED WATER is the PERFECT accompaniment.
Silicone Wristbands As Low As 6 cents - Lead Time 7 Days and Up!asi/92398
- Absolutely lowest Prices for Promotional & Specialty Products.
Drawstring Back Pak as low as $1.99(r) Order Now!asi/65595
- Order Now - 1-888-KOOLPAK or visit us at ww.koolpak.com.View Special...
Lanyards As Low As 13 cents - Lead time 7 days and up!asi/92398
- Absolutely lowest Prices for Promotional & Specialty Products. View Special...
Hilasal's 2007 Spring Special - NCP and MORE!asi/60820
- Next Column Pricing! No Screen Charge! No Digitizing Charge (up to 5,000 stitches)!View Special...
You've Found it!...Now Show Your Spirit!asi/88740
- We've got spirit how 'bout you? Show your Spirit with 100's of unique spirit and cheering related items. From Your Sports Promotion Specialist - Spirit Hand Line!
WOW!! Quality Pens as low as $.13asi/52387
- Quality Pens as low as .13�. Visit our website at www.empirepen.com to see our 100 styles and colors.View Special...
Tote bags As Low As 35 cents!asi/92398
- Absolutely lowest Prices for Promotional & Specialty Products.
Custom Premium Playing Cards!asi/36543
- Visit us on the web for our full product line @ www.apollocards.com.
Coolers, Drawstring Back Pak & Lunch Paks! $1.99(r) Order Now!asi/65595
- Order Now - 1-888-KOOLPAK or visit us at ww.koolpak.com.View Special...
Custom Plush - Great Promo & Fundraiser! - ASI 47192asi/47192
- Custom Plush With a Minimum of just 250 pieces!View Special...
LOGO GOLF CLUBS; Tournament Prizes, Client Gifts as low as $19 NET!asi/30528
- Logo Golf Clubs make great Golf Tournament prizes and giveaways! Choose from high-resolution laser engraved or full color epoxy dome models as low as $19 net. Gold- Plated models offer a classic touch of elegance for your clients.
2007 Best New GOLF Tournament Gift - 45% discounts asi/48721
- New! Unique Golf Gift (q) Free Shipping until April 30th.Our journal is the Best New Golf Product in 2007! This is what we continue to hear from our partners around the country. Quality, price, and originality make this the perfect gift.View Special...
Coloring Books - a perfect promotion for all budgets & all clients! asi/45789
- Coloring Books are a cost effective promotion to spread your message to any target audience. With positive & educational messages, this unique product is perfect to promote any business including Banks, Doctor's offices, Medical, Health & Schools. View Special...
Digital Photo Displays, MP3 Players and More from Executive to Inexpensive!asi/63053
- Digital Photo Display only $29.99(net) - MP3 Players as low as $12.99(net) - Wind-Up LED Light under $3.00(net) - For more information visit www.CorporateKey.com or call CorporateKey at 1-866-438-5655.
Let Jet Creations Inc Take Care of Your Next Event or Promotion Needs!asi/63340
- Don't just settle with a mediocre promotion slogan! We can make or create any kind of inflatable products for your company need and its upcoming event or promotions, etc; it's time to bring changes to your way of promoting your business.
If you'd like us to send Counselor PromoGram FREE to anyone else at your company (or to your off-site sales reps), just send us a list of email addresses to CounselorPromoGram@asicentral.com and we'll take care of the rest.
4800 Street Road, Trevose, PA 19053