Golf Town Canada Inc, a portfolio company of OMERS Private Equity, has agreed to sell its subsidiary Accolade Promotion Group (APG) to Staples Inc (Nasdaq: SPLS). The financial details of the transaction were not released. Staples said the acquisition of APG will enhance its position as a distributor of promotional products in North America and expand its offering to customers. OMERS Private Equity, the private equity investment arm of the Ontario Municipal Employees Retirement System (OMERS), bought Golf Town, a Canadian specialty golf retailer, in 2007. In 2012, the company was merged with Golfsmith International Holdings Inc.
Staples Enters into Agreement to Acquire Accolade Promotion Group, Canada’s Leading Promotional Products Business
Expands Staples’ breadth of offering in helping bring brands to life
April 20, 2015
FRAMINGHAM, Massachusetts & VAUGHAN, Ontario–(BUSINESS WIRE)–Staples, Inc. (Nasdaq: SPLS) and Golf Town Canada Inc., today announced that they have reached an agreement for Staples to acquire Accolade Promotion Group (APG), a leading distributor of promotional products in Canada. The acquisition will build on Staples’ position as the largest distributor of promotional products in North America and will significantly expand the breadth of offering for its customers. Terms and conditions of the acquisition were not disclosed.
“The acquisition will further Staples’ ability to bring customers a strong brand partner with a broader offering in Canada”
APG designs and delivers promotional merchandise for a number of well-known brands. As a full-scale promotional merchandise agency, APG is recognized for its creative and innovative approach to serving brands.
“The acquisition will further Staples’ ability to bring customers a strong brand partner with a broader offering in Canada,” said Steve Bussberg, senior vice president, Staples Advantage, responsible for Staples Promotional Products business. “APG’s vast experience serving customers in the financial and oil & gas industries will complement our strengths in the automotive, manufacturing and consumer goods industries.”
“We are looking forward to joining forces with Staples to more effectively deliver a great customer experience,” said Dan Craig, managing director, APG. “The acquisition will allow us to expand our global reach and extend the benefit of significant investments in technology, compliance and supply chain.”
APG is currently a division of Golf Town. Upon closing, APG will become part of the Staples family and Mr. Craig will become the managing director of SPP Canada. Pam Westman, the current managing director of Staples Promotional Products (SPP) in Canada will lead the integration of the acquisition and spearhead global expansion for SPP.
About Staples Promotional Products:
Companies of all sizes rely on Staples Promotional Products to create their eStores, print catalogs, company logo, apparel and tradeshow items. Headquartered in Overland Park, KS, SPP is the leading promotional products distributor in North America. With thousands of products currently online, SPP offers a wide array of services including customized products to match any brand; managed programs and total brand development and incentives and recognition programs. More information about SPP is available at www.yourbrandpartner.com.
Staples makes it easy to make more happen with more products and more ways to shop. Through its world-class retail, online and delivery capabilities, Staples lets customers shop however and whenever they want, whether it’s in-store, online or on mobile devices. Staples offers more products than ever, such as technology, facilities and breakroom supplies, furniture, safety supplies, medical supplies, and Copy and Print services. Headquartered outside of Boston, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. More information about Staples (SPLS) is available at www.staples.com.
About Golf Town:
Golf Town is a division of Austin, Texas based Golfsmith International which operates Golf Town stores in Canada, Golfsmith stores in the U.S. and each brand’s respective websites. Founded in 1999, Golf Town has grown from a single store in Scarborough, ON, into Canada’s largest golf retailer offering golfers the convenience of shopping in its 56 experiential stores and www.golftown.com online. Golf Town features the broadest selection of the best brands in golf, expert staff who share its customers’ love of the game, and state of the art custom fitting services and technology– truly Anything For Golf.
Shweta Agarwal, 508-253-8249
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