Boundless Network, a branded merchandise distributor powered by a technology-enabled platform, announced today the recent acquisition of Virginia-based distributor PromoCorp. This is the company’s second acquisition of a Virginia-based distributor in the past six months.
PromoCorp, a 9-year-old promotional products distributor, has revenues in the top 3 percent of all advertising specialty firms in the U.S. The company services a broad customer base, including top brands such as Walmart, CBS, XO Communications and Choice Hotels International.
According to Boundless Network President Jason Black, the addition of PromoCorp, along with a dozen prior acquisitions over the past 24 months, is further evidence of a shift taking place in the promotional products industry.
“The industry is changing at a rapid rate. Top industry professionals like the PromoCorp team see the value of having a strong competitive advantage for their clients and a technology platform to support the growth of their business in these challenging economic times. A partnership with Boundless is a win for both PromoCorp and, most importantly, their customers,” said Black.
PromoCorp co-founder Larry Ledoyen cites Boundless Network’s vision for the future of the promotional industry as a key reason for joining the company.
“We were impressed with the company’s vision, the caliber of its people and the management team’s ability to understand the needs of our sales professionals and the changing needs of our customers,” said Ledoyen. “But ultimately what mattered to us was partnering with a company that had long-term goals that would enable us to take our accounts to the next level. The Boundless platform provides an advantage that we have not had in the past, and our clients are already responding positively.”
Boundless Network is the fastest growing distributorship in the promotional products industry. The company has grown from two to 141 sales professionals in less than four years. Boundless Network has already acquired four distributorships in 2009, including Venture Marketing, a fellow Virginia-based distributor. Boundless will continue its aggressive expansion by recruiting top independent sales professionals, as well as identifying strategic partnerships with distributorships located in key regions throughout the country.
The Austin Business Journal recently ranked Boundless Network as the No. 2 fastest growing company in Central Texas in the more than $10 million in revenue category. The company was also recognized as the No. 6 best place to work in the promotional products industry by the Advertising Specialty.
About Boundless Network
Venture-backed Boundless Network (boundlessnetwork.com) is transforming the $20 billion promotional marketing industry through a highly trained, professional sales organization and proprietary technology that empowers companies to proactively manage their promotional spend. Our patent-pending technology platform connects buyers across organizations to create efficiencies of scale and reduce the cost of branded merchandise by as much as 40 percent.