21 August 2007 — Clearwater (FL): BIC Graphic USA has signed a definitive agreement to purchase Atchison Products, a US supplier of promotional totes, bags, coolers and backpacks.
These custom-imprinted products are sold through non-exclusive distributors to small businesses and large corporations for promotions, advertising and giveaways.
BIC Group CEO Mario Guevara said: "The promotional bag segment offers tremendous growth opportunity for our BIC Graphic USA division. It also illustrates our ‘bolt-on’ acquisition strategy to acquire businesses that fit strategically into our existing portfolio. Atchison Product’s talented management team and employees, its established supply chain and category expertise will be a strong addition to our promotional products business."
Following completion of the acquisition, Atchison CEO Dolly Duffy and president Dan Fangman will remain with the company, and operations will remain in Atchison, Kansas.
The deal is expected to be completed by the end of the month.