Kokomo company marks growth with three acquisitions
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Kokomo-based floral hardgoods company Syndicate Sales Inc. has added three companies to its portfolio. While financial terms are not being disclosed, the company said the acquisitions will enable it to expand product offerings and provide more manufacturing services.
Syndicate Sales manufactures and distributes a variety of floral products such as vases and containers, as well as a variety of floral-related supplies.
The company said this week it has acquired South Carolina-based Avera Products, Pottery Direct in Hamilton, Ontario, and Arizona-based TriMar Ribbon.
“As we continue to invest in growing and diversifying our business, these acquisitions represent outstanding additions to our family of companies, reinforcing our strategy to help customers succeed through industry-leading products and solutions,” Syndicate President Derick Townsend said in a news release. “By leveraging each company’s unique capabilities and expertise, we will bring a new level of service to our customers and further position our business to meet evolving consumer trends.”
Avera products primarily produces planters made from a variety of different materials. Pottery Direct specializes in the manufacturing of ceramic flower pots and has a manufacturing facility in Tennessee. TriMar Ribbon is a wholesale ribbon supplier with multiple brands under its umbrella.
A spokesperson for Syndicate told Inside INdiana Business that the acquired companies will continue to operate under their existing brand names in the near-term.
The three acquired companies have a total of 44 employees, all of whom are being retained. The acquisitions bring Syndicate’s total employee headcount to 267.
Syndicate said it plans to invest in building the companies’ existing teams, expanding marketing initiatives and a renewed focus on digital growth.