May 19th, 2006
Palojoki Corporation Acquired the Tampere-Based Promotional Advertising Products Company, Sanser Ltd.
Pori-based Palojoki Group purchased 100% of the stock of Tampere-based promotional products company Sanser Ltd previously owned by Kati and Sami Nieminen. The transaction transferred the business operations, staff, inventory and cooperation agreements including customer relationships to Palojoki.
Sami Nieminen continues in the role of Director of Sales for the company.
Sanser was established in 1997 and sales in 2005 were 5 million euros. The company employs 14 people and the whole staff continues in their current positions.
The Promotional Products division is expanding via acquisitions. After the Sanser acquisition, the company takes a leading position in the promotional products market in Finland. Seripa, which is part of the Palojoki Group, holds a strong position particularly in the Southern and Western parts of Finland. Earlier in the Spring the promotional products and business textile company of Maurix Ltd. was purchased by Palojoki, and it focuses on the Helsinki region under the direction of Heikki Riihiranta.
CEO Teijo Virtanen believes the Palojoki Group and Seripa will rise to become one of the top promotional products companies in the nation.
“The recent acquisition supports the company’s growth strategy and further complements the current service concept. The transaction particularly supports the operations of our promotional clothing division Seripa. The intention is to continue with controlled growth in this area. After two significant acquisitions it is now time to focus on the synergy benefits of the fusion,” Virtanen states.
Palojoki Group specializes in designing, manufacturing, importing and marketing of ready-to-wear clothing, promotional advertising products as well as household textiles. After the recent business acquisition the annual revenue of Palojoki increases to over 20 million euros and the staff to 85 persons. The company head office is in Pori, Finland.