HALO Acquires Harvey-Daco

As first reported in a Breaking News Alert on Tuesday, Top 40 distributor HALO Branded Solutions (asi/356000) announced that it has acquired Harvey-Daco (asi/221600), a multi-million dollar distributor firm founded in 1949 and headquartered in Waco, TX. Financial terms of the agreement were not revealed, but HALO told Counselor that as part of the deal it has retained about a dozen support staff from Harvey-Daco.

“Harvey-Daco is a well-run, established industry distributor that, like HALO, prides itself on the lasting relationships it has built with clients and account executives,” said Marc Simon, CEO of HALO, in a statement. “We couldn’t be more pleased to have Pam and Bob Kreuzburg and the rest of the Harvey-Daco team on board.”

Following the deal, HALO will maintain Harvey-Daco’s current offices throughout Texas and will be retaining key support staff. “We were impressed with the HALO team,” said Pam Kreuzburg, president of Harvey-Daco. “They share the same core values of Harvey-Daco and operate like a family-run business that our salespeople and customers have become accustomed to.”

HALO ranks as the sixth-largest distributor in the industry, after reporting 2014 North American ad specialty sales of $218.1 million, an 11.3% increase over the previous year. This is the company’s second large deal within the past few months. In June, it closed on a deal to acquire the assets of former Top 40 distributor Newton Manufacturing, after Newton had filed Chapter 11 in U.S. Bankruptcy Court in Des Moines, IA.