Breaking News: SnugZ USA Acquires Sweda Company
Supplier SnugZ USA (PPAI 112982, S11), headquartered in West Jordan, Utah, has acquired supplier Sweda Company, LLC (PPAI 113984, S11), based in City of Industry, California. The move will result an aggressive, sustainable, diverse and differentiated best-in-class service and product selection, says the news release. Financial terms of the transaction were not disclosed.
"One of the things that attracted us to Sweda was the ethos of the company,” says SnugZ USA President and CEO Brandon Mackay, MAS. “They have an amazing team, quality products, a solid reputation and very similar core values. We believe this acquisition of Sweda will further strengthen our ability to innovate new products, expand into additional product segments, and most importantly, take advantage of the similarities between both companies to better serve our loyal customers."
Jim Hagan, CEO of Sweda, adds, "I am thrilled about the combination of Sweda and SnugZ and know that our future, elevated together, is bright. The synergies between our two companies, from our core values to our differentiators will only strengthen our position in the marketplace. It is the perfect fusion of culture and creativity.”
Based on 2020 promotional product sales, the combination of SnugZ and Sweda would place the company in the top 10 largest suppliers in the industry. Mackay will remain as CEO of the combined company, while Hagan will stay on as president of Sweda. Mackay expects it to be business as usual. He says, “We both built tremendous teams throughout the years, and we intend to keep that momentum moving forward.”
Read more about this story in Tuesday’s PPB Newslink.