The Sourcing Group Acquires BrandAlliance–US Assets in Foreclosure Sale
The Sourcing Group (TSG), New York City, has acquired certain assets of the BrandAlliance–US Companies (i.e., A Brand Company Inc., BrandAlliance LLC, Global Direct of NC LLC, and Branded Business Support LLC) out of a foreclosure sale commenced by the companies’ senior secured lender effective close of business June 8.
In connection with the acquisition, a number of BrandAlliance salespeople have also agreed to join TSG. Combining their talented skills, with the dedicated support staff of TSG, provides a path forward for the fastest-growing business process outsourcing company in the industry.
“In addition to the acquisition of the BrandAlliance US assets, we are thrilled to have such experienced, energetic salespeople join our family,” said Joe Falcone, chief operating officer of TSG. “They are a great fit for our company, and will enable TSG to continue to expand our suite of services in the premium and promotional marketplace, as well as expand TSG’s reach into our other service areas, including marketing collateral, operational print, labels and packaging.”
“We are excited to bring together a group of industry professionals to join our team at TSG, and we are poised to deliver expanded avenues of supply chain management services to our collective team’s existing customers and prospects,” added Dennis Clemente, president of TSG. “The BrandAlliance–US footprint is very complementary [of] our ongoing efforts to expand our reach strategically throughout the United States.”
“Throughout this entire process, we have focused on the synergies and the potential for organic growth that will be realized from day 1 forward with the acquisition,” said Billy Caan, CEO of TSG. “Our proprietary technology platform will provide an enterprise-wide system to manage all business transactions in one fully integrated process in a manner that will best utilize the BrandAlliance assets acquired. This will deliver significant savings in time, labor and money to all of our new and existing customers.”
Integrating the assets acquired from the US BrandAlliance companies with TSG’s existing platform will provide for annual revenues at TSG that will surpass $130 million annually. The company has two additional acquisitions scheduled to be completed by August 2020 that will expand its annual sales volume to $145 million.
As part of the foreclosure, the BrandAlliance–US entities will be commencing a wind down using, in part, the anticipated proceeds from any remaining assets from the foreclosure. If you are a creditor of the BrandAlliance entities and have any questions about the BrandAlliance wind down, contact Gordon Lewis of Altman and Company LLC at (781) 341-5170 or firstname.lastname@example.org.
For more information, visit www.thesourcinggroup.com.
The preceding press release was provided by a company unaffiliated with Print+Promo. The views expressed within do not directly reflect the thoughts or opinions of Print+Promo.
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