New partnership bolstered by KLF’s full-service capabilities, proprietary technology, and portfolio of brands
Incentive Concepts is pleased to announce the acquisition of KLF Group, a Canada-based, full-service rewards provider, effective August 1, 2021.
Under the finalized deal, KLF Group and Incentive Concepts will operate as sister companies covering North America, with Incentive Concepts managing business in the U.S. and KLF managing business in Canada. KLF’s Chief Operating Officer, Hyun-Hee Pyun, will continue to lead the company.
Partnership underscored by workplace synergies
The new partnership is underscored by multiple synergies, with Incentive Concepts and KLF Group sharing many of the same values and workplace culture attributes. Both companies are fully committed to fostering an environment of empowerment where ideas are valued, continuous individual growth is encouraged, and the sky is the limit. Both companies recognize the opportunities this partnership presents and are excited at the possibilities that lie ahead.
The award-winning KLF Group brings forth a wealth of experience. Founded in 2005 by François Fortier, the company has led the way in the premium loyalty and incentive industries by developing, implementing, and fulfilling rewards and recognition experiences. This full-service approach – which includes data-enabled analytics, best-in-class distribution, an integrated rewards marketplace, and Loyalty Source, its sourcing and account management division – has helped some of Canada’s most prominent organizations improve the quality of their rewards programs while also reducing operating costs. As a result, KLF Group has been recognized time and time again for its outstanding business performance, most recently being included in Globe and Mail’s 2019 list of the Top Growing Companies in Canada.
KLF Group features state-of-the-art systems
In joining forces, Incentive Concepts gains an opportunity to further bolster its superior customer service and reward fulfillment capabilities with KLF Group’s proprietary supplier technologies and state-of-the-art systems. KLF represents more than 400 brands, inventories all products in an owned and operated warehouse, and prides itself on having industry-leading response and ship times.
“We were intrigued and excited about this opportunity from the start” said Joe Reinberg, President & CEO of Incentive Concepts. “Both companies share similar cultures and our management teams meshed very well. Our strengths complement each other in a way where, once properly integrated, both companies will possess increased capabilities to provide customers, as well as suppliers, a more robust offering of solutions.”
Expertise in managing prestigious Canadian loyalty programs
KLF Group brings powerful in-house expertise regarding rewards program management. The company has overseen several of Canada’s most prestigious loyalty programs. Furthermore, through the acquisition, KLF Group gains access to proven marketing strategies and best practices that have helped solidify Incentive Concepts as a leader in the rewards & recognition industry.
“We felt that Incentive Concepts was the perfect partner to take our incentive programs to the next level” said Hyun-Hee Pyun, KLF’s COO. “With their experience and our expertise, we will be able to learn from one another and perfect our services as leaders in our industry, while customers will continue to be served by the same Canadian team in the same place.”
Acquisition to expand brand presence throughout North America
Together, Incentive Concepts and KLF Group are set to usher in a bold, new era of rewards and recognition, defined by unrivaled product selections, seamless operations, and technological innovation.
To learn more about the acquisition or to discuss your company’s rewards and recognition needs, contact us using the form below or call us today at 888-862-9283.
KLF and Incentive Concepts would like to thank their partners at PricewaterhouseCoopers Corporate Finance, Affinity Law Group, Robinson Sheppard Shapiro, BDO, Richter, and Enterprise Bank & Trust for their hard work, guidance, and diligence throughout this process and getting the deal closed successfully.
The word “Incentives” can mean different things to different people and can be confusing and even intimidating. But boiled down to its simplest terms, an incentive is anything that is designed to modify and drive behavior to an ultimate goal. Whether it’s for employees, customers, or prospects, Incentive Concepts delivers brands that will help you achieve your goals.