Advantus Acquires McGill Inc.
The latest round of consolidation in the scrapbook industry is continuing this week with the announcement that Advantus has acquired "substantially all of the assets" of punch and office supply manufacturer McGill, Inc.
According to the announcement, McGill products will start shipping from Advantus's headquarters in Jacksonville, Florida before the end of the month.
“We look forward to manufacturing and distributing the McGill products and building on the good name of McGill, Inc., with its reputation for quality products,” said Kevin Carpenter, President of Advantus.
“We at McGill are excited about the acquisition by Advantus Corp. This will be great for all of our customers and allow the McGill product lines to grow in the office products and craft markets,” said Wayne Schwartzman, President of McGill, Inc.
McGill has long been known in the scrapbook industry for its punches, but in recent years has seemed to lose market share to EK Success, and to the growth of the die cutting industry.
In many ways these two companies seem made for each other. They are both companies with lengthy histories, Advantus since 1913 and McGill since 1878. Both companies have one foot in the crafts market and one foot in the office supply market. But McGill's focus on tools is something that is sorely lacking at Advantus, making the acquisition more complementary than duplicatory to their offerings.
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