Superior Uniform Group buys Chicago firm to grow its retail promotions business

Michael Benstock has been CEO of Superior Uniform Group in Seminole since 2003. [Courtesy of Superior Uniform Group]
Michael Benstock has been CEO of Superior Uniform Group in Seminole since 2003. [Courtesy of Superior Uniform Group]
Published December 1 2017
Updated December 1 2017

SEMINOLE ó Superior Uniform Group purchased a Chicago-based promotional products company known for its point-of-purchase display and merchandising expertise as part of an expansion plan in the retail promotions industry.

The deal for Tangerine Promotions, conducted via Superiorís Bamko subsidiary, was finalized Friday with a purchase price of $7.2 million in cash, about $2 million of Superior Uniform Groupís common stock that will vest over a four-year period, the potential future payment of $5.5 million based on performance through 2021, and the assumption of certain liabilities of Tangerine.

With such clients as Disney, GE and Fox Sports, Tangerineís revenues this year are projected to be approximately $36 million. The acquisition is expected to be accretive to Superiorís operating results in 2018. Superior, which provides uniforms to various industries, has enjoyed a strong year with a stock price recently topping $25 ó an all-time high.

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