BAMKO Acquires $24.5M Distributor Sutter's Mill Specialties
BAMKO, Los Angeles, announced that it has acquired the assets of Sutter's Mill Specialties Inc., Tempe, Arizona. Sutter's Mill reported promotional products revenue of around $24.5 million over the past 12 months.
“We’ve been approached by a lot of folks over the years interested in acquiring our business, but none come close to possessing the culture, capabilities, or energy that the BAMKO team is able to infuse into our business," Sutter's Mill Specialties president Michael Butler said in a press release. "We see where the direction of our industry is headed, and BAMKO has proven that it is at the forefront of that change, which is very clearly transforming the future of branded merchandise. While the business side and growth opportunities are so exciting, what excites me most is the opportunity to join forces with such a talented, hard-working, and high-character leadership team. The future is extremely bright here at Sutter’s Mill, and I cannot wait to see how we shape that future together.”
Jake Himelstein, president of BAMKO, said that Sutter's Mill Specialties' technology capabilities played a large role in the acquisition, and that BAMKO will look to integrate the distributor's robotics and automation into its own proprietary software and operations. The acquisition, he said, also allows BAMKO to acquire expertise in those areas.
"It’s not enough to simply be the most technologically advanced distributor in the space," BAMKO president Jake Himelstein told Promo Marketing. "We need to continuously press that advantage and expand on our lead over time. This acquisition is a major step in that direction, adding infrastructure, expertise, and capacities in the worlds of robotics, automation, and artificial intelligence."
The acquisition was finalized on Dec. 1, 2021. Financial details were not made public at this time.
"In order to maintain our unique capacity for growth, we can’t be complacent with our standing as a better company," Himelstein added. "We need to keep getting better at being better. The acquisition of Sutter’s Mill is a significant step forward in that journey."
BAMKO has been active in mergers and acquisitions this year. In February, the company acquired Gifts by Design to bolster its capabilities in the awards and recognition space. In October, BAMKO announced that it will expand further into the uniforms space.
The company ranked No. 9 on Promo Marketing's 2021 Top Distributors list.