Sawtelle-based Bamko, a sourcing agency that provides promotional and branded merchandise, has acquired a Chicago competitor for $7.2 million, the company announced Thursday.
In an all-cash deal, Bamko bought all the assets of Tangerine Promotions Ltd. and Tangerine Promotions West Inc. and assumed certain of the companies’ liabilities. The transaction is set to close on Dec. 1.
Tangerine is a promotional products and branded merchandise agency with projected 2017 revenue of about $36 million, according to the company.
“This is a very big deal for us that should put Bamko squarely in the top 20 distributors in North America,” said Joshua White, general counsel at Bamko, in an email to the Business Journal. The acquisition is part of a broader strategic vision, he added.
Bamko was acquired by Seminole, Fla.’s Superior Uniform Group Inc. in March of 2016. Bamko’s annual sales were $31 million at the time, White said.
Manufacturing and trade reporter Shwanika Narayan can be reached at firstname.lastname@example.org or 323-556-8351. Follow her on Twitter @shwanika.