K Promotions, Ltd., a distributor in Toronto, Ontario, and Concord, Ontario-based Astro Wear have merged in a deal finalized on April 25. The new company will operate as Astro Marketing, Ltd. and base its operations in Concord. Financial details of the transaction were not disclosed.
Reeven Garber, K Promotions’ president, will carry over as president and CEO of the new company, while Astro Wear president Robert Hirschberg will continue in an advisory role.
“When the opportunity for this merger presented itself I was elated by the possibilities that would open up for both our companies,” says Garber. “Rob and I are very excited by this prospect. We have known each other for years and have always had a friendly and collaborative friendship. In today’s highly competitive and economically sensitive marketplace, we needed more buying power and the value added in-house services and unparalleled wearable value that Astro Wear brings. By using K Promotions’ administrative and back-office operations, including our full support systems and technology tools, as well as providing marketing support, Astro Wear gains the organizational experience and staff that will focus both companies’ synergies into a win-win situation.”