Seminole, Florida-based supplier Superior Uniform Group Inc. has acquired Los Angeles-based distributor BAMKO in a $15.8 million cash transaction.
As part of the deal, Superior Uniform Group will issue $5.5 million in shares of its stock vested over five years and a potential future payment of $5.5 million through 2021 for additional contingent considerations.
“BAMKO brings Superior Uniform Group an outstanding sales, marketing and customer-centric team of people,” said Michael Benstock, CEO of Superior Uniform Group, in a press release. “BAMKO’s elite customer base and product offerings will further enhance our overall position in the retail, health care, food service, transportation and other markets that we serve.”
“For over 15 years, we have tirelessly built a reputation for quality and ingenuity, developing great products, ideas and designs, that bring our customers’ brands to life,” said Phil Koosed, CEO and co-founder of BAMKO. “We show up every day driven to constantly improve our products, service and technology. We think our commitment to constantly improve our customers’ experience aligns perfectly with Superior’s philosophy of always putting customers first. This union with Superior will give us the financial resources to take our customer experience to a whole new level while giving us the opportunity to invest in the growth and development of our business. We are very happy to be part of the Superior family of companies. We look forward to working with Superior while building on the unique culture that has made us so successful.”
The principals with the distributor will remain with the company, and BAMKO will operate as a subsidiary of Superior Uniform Group with BAMKO continuing to serve its clients from the company’s locations in Los Angeles, New York City, Hong Kong, England, Brazil and India.
For more information, visit www.superioruniformgroup.com.
