The Sourcing Group Acquires Distributor Carpe Diem Sales & Marketing
The Sourcing Group (PPAI 286984), headquartered in New York, New York, has acquired distributor Carpe Diem Sales & Marketing (PPAI 334360) in Orlando, Florida. With the acquisition, sales revenues at The Sourcing Group are projected to surpass $100 million this year.
“We are thrilled to bring Carpe Diem into our company for several reasons,” says Dennis Clemente, president of The Sourcing Group. “First, Mike Giordano and Phil Fry are consummate professionals in their business space and they built a great company together. Second, they have very talented salespeople and their domain expertise in the premium and promotional industry provides TSG with the opportunity to cross-sell to all our customers. Finally, we will have the opportunity to integrate our enterprise strategy platform to provide marketing collateral, variable print programs, labels and packaging into their existing business.”
Joe Falcone, chief operating officer, adds, “In addition to the tremendous synergies of our respective business models, Carpe Diem provides TSG with in-house manufacturing capacities for both embroidery and screen printing. We are continuing our commitment to expand our regional footprint with proven industry specialists, which enables us to establish a local presence in key market areas throughout the United States.”