STERLING, IL January 29, 2020 – HALO Branded Solutions (asi/356000), the third largest distributor in the promotional products industry, has acquired Top 40 distributor Axis Promotions (asi/128263). Financial terms of the deal were not released.
Sterling, IL-based HALO generated 2018 North American promo revenue of $605 million. In the same year, New York City-based Axis had sales of $53.7 million. The combined revenue would be enough to move HALO into second place on Counselor’s latest list of the 40 largest promotional products distributors. That doesn’t account for the gains and losses made by other distributors, including current second spot holder Staples Promotional Products (asi/120601), which had estimated 2018 revenue of $607.7 million.
“Axis is a rapidly-growing distributor serving a blue-chip roster of global brands,” said HALO CEO Marc Simon. “[Axis President] Larry Cohen and his team have built Axis on creativity and exceeding client expectations, and we appreciate their trust in HALO’s ability to help them continue their impressive growth. Our goal is to leverage the best practices of both HALO and Axis for the benefit of the valued clients of both organizations.”
Cohen will continue to lead Axis, which will also remain based out of New York City with its current team in place.
“There is mutual respect between HALO and Axis,” said Cohen. ”We have known each other for many years and recognize the amazing synergies our two companies share. HALO’s financial strength and business development tools will allow us to expand our reach with our clients and key prospects – and [our ability] to offer enhanced creative services, deeper supplier relationships, robust e-commerce, and distribution capabilities. HALO’s client-centric and innovative approach aligns with the expanding needs of our clients.”
Simon, Cohen, and Axis EVP/Partner Joan Landorf are all on Counselor’s Power 50, a definitive ranking of the most influential people in the promotional products industry. Simon ranked second on the list. Cohen and Landorf jointly ranked 39th