Here at Promo Gift Blog, we keep up to date with the latest news about the Promotional Products industry. As we close of the year, we saw a surge of mergers and acqusitions this month. Here are some of the mergers and acqusitions of December.
BIC Acquires Rocketbook
Earlier mid-December, France-headquarted BIC Corp acquired Rocketbook. The acqusition was closed for $40 million. This comes after BIC sold BIC Graphic, now known as Koozie Group in 2017 to private equity firm H.I.G. Capital. Koozie Group recently acquired IMAGEN Brands in December as well.
Rocketbook was founded in 2014, selling resuable notebooks powered by the brand's cloud application. Since their rejection on Shark Tank in 2017, the company is now a 38-person operation with a net sales of $32million this year. Rocketbooks products are carried by supplier such as Leed's and VisionUSA.
In a statement by senior sales manager, Hannah Shaw, "Rocketbook will remain in promo and have no plans to change that anytime soon". Founders of Rocketbook, Lemay and Epstein, believes that BIC's entrepreneurial spirit, values and visions for the future of the category are aligned with how we work and where they want to go.
Facilisgroup Acquires Assets of Corexpand
Facilisgroup, a software as a service company and partnering community for promotional products firms , has recently acquired software assets from Corexpand. The acqusition is said to strengthen Facilisgroup's technologIcal services and to boost their e-commerce platform. The platform is said to be available in the second quarter of 2021.