Promotional products company SnugZ USA LLC, based in West Jordan, has acquired Sweda Co. LLC of City of Industry, California. Sweda is also a promotional and gifting products provider.
SnugZ is a portfolio company of Tower Arch Capital, a private equity firm based in Draper.
The new company combines “two top-40 promotional products suppliers to enhance their ability to offer distributor partners an unparalleled product selection and the highest-quality service,” a SnugZ release said.
“We believe this acquisition of Sweda will further strengthen our ability to innovate new products, expand into additional product segments, and most importantly, take advantage of the similarities between both companies to better serve our loyal customers,” said SnugZ President and CEO Brandon Mackay.
“I am thrilled about the combination of Sweda and SnugZ and know that our future, elevated together, is bright,” said Jim Hagan, CEO of Sweda. “The synergies between our two companies, from our core values to our differentiators, will only strengthen our position in the marketplace. It is the perfect fusion of culture and creativity.”
David Topham, a partner at Tower Arch Capital, said, “We are honored to partner with Jim Hagan and the entire Sweda team. Sweda’s innovation and commitment to serving their distributor customers has redefined what it means to deliver high-quality and creative products. This next chapter of growth will be very exciting as we leverage the expertise of both businesses.”
Based on 2020 promotional product sales, the combination of SnugZ and Sweda will create one of the top-10 largest suppliers and would provide customers with one of the most diverse product offerings in the industry, Mackay, who will remain CEO, said. Hagan will remain as president of Sweda.
