You Tube

Skip Navigation LinksNews > Mergers & Acquisitions > BIC Graphic Acquires Norwood
Printer Friendly

BIC Graphic Acquires Norwood
Breaking News
June 19, 2009

In a deal involving two of the largest industry suppliers, BIC Graphic USA (asi/40480) has announced it will acquire Norwood Promotional Products. To complete the sale, BIC will pay $125 million plus approximately $37.5 million in assumed liabilities. "The management expertise and strategic combination of BIC Graphic and Norwood will give us the opportunity to lead the growth of the industry," said BIC Group CEO Mario Guevara, in a statement.

BIC outbid the presumed purchase front-runner, Aurora Resurgence, which had made an initial offer to buy the Indiana-based supplier six weeks ago. Norwood filed for Chapter 11 bankruptcy protection in May, maintaining that its debt could not be restructured. "I have had many years of experience with BIC and I am pleased to have them as our partner for the long-term," said Paul Lage, Norwood president and CEO. "We intend to set a new standard for quality, service, safety and the ease of doing business."

For 2008, Norwood reported North American ad specialty sales of $314 million, while BIC reported North American ad specialty revenues of $191 million. With the deal, BIC will become the largest supplier, based on revenue, in the ad specialty industry.

For more details on this acquisition, see Tuesday's Counselor Promogram.

Sponsored By:

Making You Money: What ASI is all about.

Promotional products, also known as ad specialties, make up a $20.5 billion dollar industry and are used by virtually every business in America. Why? Items like mugs, pens and t-shirts are memorable and provide a better cost per impression for advertisers than almost every major marketing effort like prime time TV, magazines and radio.

With so many businesses buying ad specialties there is a huge opportunity for professionals looking to make great money running a promotional products distributorship. It’s easy and inexpensive to get started and you can work from home.

© 2014, The Advertising Specialty Institute®. All Rights Reserved.

  • A business opportunity to reinvent your career in an exciting field
  • Work at home - for yourself - not by yourself
  • Make money selling ad specialties
  • Partner with a time-tested industry leader
  • Get started instantly with all the tools you need