Promotional products company Geiger buying UK's BTC Group
U.S. family-owned promotional products company Geiger is buying the largest family-owned promotional products distributor in the United Kingdom.
CEO Gene Geiger said Monday the merger with BTC Group expands the company's footprint in Europe. The new company, Geiger BTC Group, will have nearly 400 employees.
Financial terms weren't disclosed.
Geiger told the Sun Journal newspaper that the two companies have collaborated in the past, and that BTC's owners let it be known that they were ready to sell.
Both management teams are staying in place.
Geiger will be CEO of the parent company and Frank Murphy, BTC Group's managing director, will run the U.K. subsidiary when the deal closes next month.