Superior Uniform Group Acquires Distributor Public Identity
As reported Monday in a PPB Newslink Breaking News alert, Los Angeles-based distributor Superior Uniform Group, Inc., through its BAMKO, LLC (PPAI 242148) division, has acquired substantially all of the assets and assumed certain liabilities of distributor Public Identity, Inc. (PPAI 230372), also located in Los Angeles.
"The acquisition of Public Identity by BAMKO results in a union that will make our combined entity a force to be reckoned with in the collegiate licensing space," says Philip Koosed, president of BAMKO. "Over the years, Public Identity has held a well-earned reputation for its ability to provide high-quality and innovative collegiate licensed products to college fans and consumers across the country. The opportunity to leverage Public Identity's expertise and reputation in this space and support it with BAMKO's award-winning creative, sales, programming, and fulfillment solutions was too great to pass up. We are incredibly eager to start working with the talented associates at Public Identity and providing an unmatched level of support and service to their customers. We are pleased to complete our first acquisition as a part of the Superior family and look forward to reporting on additional acquisitions in the future."
Leland Felsenthal, founder and president of Public Identity, will remain with the business along with all employees. He will serve as president of Public Identity, which will now operate as a division of BAMKO. Felsenthal says, "BAMKO is unlike any other company in the promotional products industry. BAMKO's capabilities in technology, global sourcing, creative and fulfillment help to set them apart from the competitors in our space. We are very excited to introduce our customers to everything that working with BAMKO has to offer. The character and integrity of the BAMKO team, and their commitment to direct, safe, ethical and environmentally responsible sourcing, is perfectly aligned with the company we've worked so hard to build at Public Identity."
The transaction, which has been in the works for the past three months, closed on Monday, and will add approximately $6 million to Superior Uniform Group's 2017 operating results. The addition of Public Identity expands BAMKO’s presence in the collegiate licensing space significantly, to around 10 percent of its business.
Speaking to PPB Newslink, Koosed says, “Suppliers will now have the benefit of an even larger spending pool under one roof. Specific terms with individual suppliers will be worked out in the coming months.”