(November 12, 2018) – Joe Reinberg, President & CEO of Incentive Concepts, and Dave Olson, President of Elite Creations, are pleased to announce that an agreement has been reached for the acquisition of Elite Creations by Incentive Concepts effective January 1, 2019.
This agreement will transfer most of Elite Creations brands, including Kate Spade New York, Honda Outdoor Power Equipment, Body Solid, Magic Chef, Poulan/Weedeater, Karcher, AR Blue Clean, Salvatore Ferragamo, Lauren by Ralph Lauren, Rebecca Minkoff, Costa del Mar, Whistler, West Bend and W Unlimited to Incentive Concepts. The current Elite Creations staff, led by Executive Vice President Ted Moravec, will become employees of Incentive Concepts. Ted Moravec will lead the transition project and become Vice President at Incentive Concepts.
Fulfillment operations for the Elite Creations brands will most likely transition to Incentive Concepts in the second half of 2019. The current Incentive Concepts sales force of independent sales representatives and in-house sales staff will manage the sales channel for the combined companies. All order processing for these brands will be handled by Incentive Concepts starting January 2, 2019.
“This is a rare opportunity for two companies who share similar values, and a mutual respect for one another to combine their operations to better serve the premium, incentive, and corporate gifting markets. Our companies have minimal existing product overlaps and even share a number of the same independent sales representatives”, said Joe Reinberg. Added Dave Olson, “This is a great opportunity for the brands and staff that have built Elite Creations to benefit from the sales and marketing power of Incentive Concepts to provide growth and opportunity.”
Incentive Concepts is a leading provider of premium and incentive merchandise as well as corporate gifting experiences, headquartered in St. Louis, Missouri. Elite Creations is a division of Power Equipment Company, located in Cortland, Illinois. For further information, contact Billie Reise at 314-373-5587 or [email protected].