Geiger (asi/202900) will make two acquisitions in 2024.
Top 40 Promotional Products Distributors Announced on Monday, April 8thth Announced the acquisition of O2 Marketing + Design (asi/286464), a 24-year-old sales agency based in Pleasant Hill, California. Financial terms of the deal were not disclosed.
O2 Marketing will now market as O2 Marketing, A Geiger Company. O2 leaders said shared values, cultural alignment and Geiger's technology solutions are reasons for joining the ninth largest promotional distributor.
Meg O'Dea, partner and co-founder of O2, said: “We were looking for a company that shared our passion for exceeding customer expectations and had the expertise and resources to help grow our business.” “Geiger's proven track record and positive, collaborative approach Our commitment to promoting a safe working environment made Geiger the ideal choice. In fact, as we were choosing our next employer, Geiger's reputation for caring for people, products, and the planet made us an ideal choice. It’s unparalleled.”
Mr. O'Dea and his entire team will join Mr. Geiger, executives said.
“The acquisition of O2 Marketing underscores our dedication to expanding our footprint, introducing new insights and leveraging our expertise.”Chris McKee, Geiger
Geiger's acquisition of O2 Marketing follows the company's acquisition of Broadway Marketing, which it announced in January. Broadway Marketing is an Albany, New York-based sales agency that has been in business since 1956. Executives noted that the California and New York locations strengthen Geiger's position in key geographic markets on both sides of the United States. Country.
Chris McKee, Geiger's chief revenue officer, said: “The acquisition of O2 Marketing is a strategic move for our company to expand our footprint, bring in new insights and leverage our expertise while staying true to our core values. It emphasizes the dedication of
Headquartered in Lewiston, Maine, Geiger is now in its fifth generation of Geiger family ownership/management. The company has been aggressively acquiring domestically and internationally in recent years, particularly in the UK, where Geiger's UK division has become a major force in the industry.
For example, in 2023 Geiger acquired Incentives by Design of Tukwila, Washington, and Firebrand Promotions of Leatherhead, Surrey, England. Since entering the UK geographic market in 2018, Geiger has made five acquisitions in the UK, all of which also continue to acquire domestic distributors.
“As we look to 2024, we remain committed to our mission of strengthening our brand's influence domestically and internationally,” McKee said.
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Based on reported 2022 North American promotional product revenue of $327 million, Geiger ranks No. 9 on Counselor's most recent list of the industry's largest distributors. Geiger has offices in the United States and Europe and partners with more than 450 independent sales representatives. The company prioritizes sustainability, as evidenced by its recent EcoVadis Gold rating.
Mergers and acquisitions in the promotional products industry were once again on the rise in early 2024. Although industry sales have temporarily slumped in recent years due to factors such as the COVID-19 pandemic, economic uncertainty, and soaring interest rates, the overall trend is that promotions have seen a significant increase in corporate sales. It has been done.
This phenomenon is caused by various factors. These include quite a few experienced executives who are leaving the company. Increased private equity investment in promotions. the fragmented nature of commodity markets; Businesses want to gain the capabilities and efficiencies to cost-effectively scale in an era of increasing cost and complexity of commerce.
