SnugZ USA Acquires Sweda Company
Supplier SnugZ USA (PPAI 112982, S11), headquartered in West Jordan, Utah, has acquired supplier Sweda Company, LLC (PPAI 113984, S11), based in City of Industry, California. First reported Monday in a PPB Newslink Breaking News alert, the move will result in aggressive, sustainable, diverse and differentiated best-in-class service and product selection, according to the news release announcing the deal. Financial terms of the transaction were not disclosed.
Based on 2020 promotional product sales, the combination of SnugZ and Sweda would reportedly place the company near the top 10 largest suppliers in the industry.
“One of the things that attracted us to Sweda was the ethos of the company,” says SnugZ USA President and CEO Brandon Mackay, MAS. “They have an amazing team, quality products, a solid reputation and very similar core values. We believe this acquisition of Sweda will further strengthen our ability to innovate new products, expand into additional product segments, and most importantly, take advantage of the similarities between both companies to better serve our loyal customers.”
Jim Hagan, CEO of Sweda, adds, “I am thrilled about the combination of Sweda and SnugZ and know that our future, elevated together, is bright. The synergies between our two companies, from our core values to our differentiators, will only strengthen our position in the marketplace. It is the perfect fusion of culture and creativity.”
Mackay will remain as CEO of the combined company, while Hagan will stay on as president of Sweda. Mackay expects it to be business as usual. He says, “We both built tremendous teams throughout the years, and we intend to keep that momentum moving forward.”
Speaking to PPB Newslink, Brandon Brown, SnugZ USA's vice president of marketing, says the deal has been in the works for months between both owners and expanded on what distributors the plans going forward. He says, "It will be business as usual for both companies. Orders will still be submitted separately for now as they always have and we will be working together to bring the best experience and product offering to the industry."