BIC Graphic USA today announced that it has completed the acquisition of Norwood Promotional Products. The newly formed subsidiary will conduct business as Norwood Promotional Products LLC, a wholly-owned subsidiary of BIC USA Inc.
Total consideration for the acquisition is $125 million plus approximately $37.5 million in assumed liabilities.
"Norwood and BIC are similarly aligned in mission, values and culture," said Paul Lage, President of Norwood. "We look forward to the new opportunities afforded by their ownership. These are exciting times."
BIC Graphic Group General Manager, Nicolas Paillot, added: "The promotional products industry has a great future. We're confident that the BIC Graphic USA and Norwood employees will work diligently to offer unparalleled quality and service to our customers and carry on the proud tradition of both companies."