Geiger Acquires The P.O.P. Shop
Longtime Counselor Top 40 distributor Geiger (asi/202900) has acquired Atlanta-based The P.O.P. Shop (asi/288992), the companies have announced. Terms were not released. As part of the deal, which was finalized January 1, The P.O.P. Shop will keep its name and brand. “That was very important to us,” says Sonya Beam, co-owner of The P.O.P. Shop. “We’ll be a division of Geiger. We’re excited about that. We’ll have more resources and more buying power.”
Jo-an Lantz, executive vice president of Geiger, says the deal was made to strengthen her company’s presence in the Atlanta market. “We had a small presence in Atlanta, but this will help us to grow further into that market,” Lantz says. “It’s the type of firm we want to partner with. It’s creative, young and fun. We’re looking to bring that approach and attitude to Geiger.”
The P.O.P. Shop boasts clients that include AT&T, Liberty Mutual and Georgia Pacific. Its owners believe the acquisition is a win for both companies. “We were blown away by their technology and how it can help our clients,” says Brian Beam, co-owner of The P.O.P. Shop. “Geiger is a great family company. Our clients are already excited.”
While Lantz declined to comment on the acquired company’s revenues, according to the latest data reported to ASICreditConnect, The P.O.P. Shop generates annual revenues of $1.4 million. In 2007, buoyed by a series of acquisitions, Geiger generated revenues of $184 million, a 7% increase from the prior year.