Schawk Acquires Assets of Brandimage
DES PLAINES, IL—Schawk Inc., a provider of brand development and deployment services, has entered into an agreement to acquire substantially all of the assets of Lipson Associates and Laga Inc., which does business as Brandimage-Desgrippes & Laga or Brandimage.
Brandimage is an independent branding and design network specializing in providing services that seek to engage and enhance the brand experience, including brand positioning and strategy, product development and structural design, package design and environmental design. With unaudited 2010 revenues of approximately $32 million, it has operations in Chicago, Cincinnati, Paris, Brussels, Shanghai, Seoul and Hong Kong.
Brandimage will operate in conjunction with Schawk’s current branding and design capabilities, which are performed under its Anthem Worldwide brand.
“We are delighted to have reached an agreement with Brandimage," noted David Schawk, president and CEO. "We believe that bringing our companies together will further differentiate our offering to global clients seeking to enhance the position of their brands. This transaction will enhance our brand development offering as we continue to implement our strategy of providing both brand development and deployment across multiple mediums serviced and delivered on a global basis.”
The completion of the transaction is subject to various customary closing conditions, as well as the satisfactory completion of Schawk’s due diligence investigation. The closing is currently anticipated to occur in early October following satisfaction of the due diligence conditions. Schawk anticipates funding the purchase price through a draw from its existing credit facility.