Ha-Lo Gives Holiday Shopping New Meaning
Ha-Lo Industries, Inc. stayed in full acquisitions mode over the holidays, purchasing two more companies.
The Niles, IL-based agency bought Parsons International Trading Business, one of Europe’s largest and most successful premium companies. Terms of the transaction were not disclosed. It also reached an agreement to acquire Cleveland-based Incentive Merchandising Corporation (IMC).
Established in 1984, privately owned Parsons is a designer and supplier of customized premium products. The company is profitable, with estimated 1999 revenues of $45 million. From its headquarters in Paris, sales offices in Holland, England, and Italy, and a sourcing office in Hong Kong, Parsons serves a wide spectrum of customers including Unilever, Nestle, Yves Rocher, and Daxson.
Lou Weisbach, Ha-Lo president and ceo, states: “This acquisition is an important step in our international expansion. [Parsons’] sales offices, design capabilities, and sourcing office in Hong Kong are important additions to our core capabilities, and further our strategy of acquiring leading companies in the industry.”
IMC is a promotional products company that “will further strengthen our operations in that area,” Weisbach says.
Ha-Lo’s extensive client roster of over 20,000 companies includes Abbott Labs, Ameritech, Ford, General Electric, General Mills, Glaxo Wellcome, IBM, and Siemens.
