Deluxe Corporation, parent company of Top 40 distributor Safeguard (asi/316203), acquired Mabelvale, AR-based B&B Solutions (asi/131601). Financial terms of the deal were not disclosed.
“B&B Solutions was a company with a mature sales force and many of them were involved in the ownership of the company,” Jerry Spears, owner of B&B Solutions, told Counselor. “As the majority shareholder and CEO, I was ready to retire and the remaining shareholders were not in a position to buy my interest. We as an ownership group made the decision to respond to an interest that Deluxe had shown in our company. They made us a fair offer and, after much due diligence both ways, we agreed to terms.”
Acquiring B&B Solutions furthers Deluxe’s efforts to provide a complete offering of small business marketing services for its customers. “B&B Solutions specializes in selling directly to businesses, which aligns with our business model,” said Cameron Potts, vice president of public relations and community management, in an interview with Counselor. “This acquisition expands the Deluxe Small Business Services direct sales capability, which is critical to our growth strategy. Customers of both companies will enjoy the added benefit of increased services across the board, as well as a broader range in product offerings and an online user experience that will enhance the customer’s overall experience.”
Spears will help facilitate the transition period before his retirement, and adds that current B&B Solutions Clients should not experience drastic changes in their interactions with the company as it shifts to Deluxe, since “most sales representatives and customer service representatives will still take care of their customers.”
The transaction went into effect August 15. Earlier in the month, Deluxe acquired online distributor InkHead Promotional Products (asi/231159). Safeguard ranks as the 28th-largest distributor in the industry with an estimated $66 million in North American promotional product revenue.