PromoWire (3/16-3/20): News And Notes From Around The Industry
(Editor’s Note: PromoWire by PPAI Media is a running digest of news releases and updates submitted from organizations around the promotional products industry. PPAI Media edits these only slightly, including for length, and will consider newsworthy entries from any member organization.)
March 21, 2023
BAMKO Revenues Climb Sharply In SGC's Latest Financial Report
Superior Group of Companies, the parent company of Los Angeles-headquartered distributor BAMKO (PPAI 242148, D11), has reported the distributor's strong performance over the past year in its latest financial reporting.
- The distributor earned $388 million in revenues in 2022. Last March, the SGC reported that BAMKO had generated $215.8 million in revenues in 2021, representing an approximate 80% year-over-year growth rate. Looking back over the past five years, BAMKO has turned in a compound annual growth rate of 16%.
- Today, the company accounts among its clients numerous large brands brands, including CVS, Amazon, Walmart, Nike and Coca-Cola.
- BAMKO's business has benefitted from several acquisitions over the last few years. In May 2022, it acquired Norcross, Georgia, distributor Guardian Products and before that in December 2021, Tempe, Arizona's Sutter's Mill Specialties.
March 16, 2023
PromoCares Introduces “Water4Good” Event
- The Water4Good event will bring attention, education and action to the global water crisis in the countries from which the promotional products industry draws resources. PromoCares’ goal is to raise enough funds to purchase 1-3 AquaTowers that will be constructed in disadvantaged schools and communities in Mexico. Build dates will be highlighted during World Water Day.
- Contributors will be able to create teams through tiered sponsorship levels, with 100% of funds going directly to Planet Water Foundation. For each level, contributors will receive perks such as name on PC Tower, volunteer opportunities and of course, branded merch. A secondary goal is to create teams that include distributors, suppliers and service providers to strengthen relationships in the promotional products industry.
- “Every person's right to clean water, better health and hygiene is not political, not debatable,” says PromoCares board member Scott Pearson. “Help us stand up for the Promotional Product Industry with our Water4Good campaign to bring resources, clean water and education to the communities around the world that produce our products in which our businesses thrive. Get involved...”
Peernet Group Announces Lahlouh As Newest Member
- This addition is part of the Peernet Group's long-term growth strategy, which includes adding a select group of high-performance distributors in diverse metropolitan markets across North America. With the addition, the Peernet Group now tops $335 million in combined revenue.
- "We are very excited about the addition of Lahlouh, Inc to the Peernet Group,” says Darlene Blaum, CEO of the The Peernet Group. “Lahlouh has built a strong and growing family run business over 40 years, with an eagerness and commitment to rapid growth. In addition to Promo, they bring an expertise in the print business, along with a fresh perspective and additional leadership to our group. They represent the high standards and exceptional performance that all Peernet members embody ...they are a great fit.”