HDS Acquires Distributor Stuart & Associates
Distributor HDS (UPIC: HDSMKTG) has acquired Cleveland, Ohio-based Stuart & Associates (UPIC: STUAP001). Established in 1973, Stuart & Associates, which also maintains a sales office in Columbus, offers printing and promotional product services in eastern Ohio. While the financial terms of the deal were not disclosed, the acquisition will take Pittsburgh, Pennsylvania-headquartered HDS’ annual sales to an estimated $32 million.
Craig McAllester, president and owner of Stuart & Associates, says, “We’ve been down the acquisition road a few times and this one seemed like the right fit from the beginning. I wanted to align Stuart & Associates with a company that has the same core values as our employees and one that could give our company the tools to service our clients well into the future.”
Stuart & Associates expands HDS’ capabilities in regard to promotional products, printing and fulfillment services. The acquisition now allows HDS to offer its client base printing services as well as additional fulfillment locations. In addition to its headquarters and the Cleveland and Columbus offices, HDS has operations in Kansas City, Missouri, and Phoenix, Arizona.
“Our acquisition of Stuart & Associates complements our goals of expanding into new markets, and adding printing and paper collateral services,” says Howard Schwartz, CEO and founder of HDS. “This is just one more step toward becoming a vertically integrated company that meets the demand for consolidation in today’s business climate. Many of our clients that purchase promotional products also purchase print marketing."
Schwartz adds, “This adds to our repertoire of services that include promotional merchandise, corporate apparel, embroidery, screen printing and direct importing that we currently offer. We are truly a one-stop shop that will continue to assist our clients with achieving all of their branding goals.”