SOLO Group and midocean join forces for one-stop merchandise offering
French promotional textiles company SOLO Group has acquired Dutch-based merchandise business midocean to better serve the needs of European buyers with a one-stop shop. SOLO Group and midocean engaged in 2020 in commercial cooperation to explore the compatibility of both companies when offering a selection of the SOLO Group portfolio including decoration to resellers in Europe. This proved successful and appeared a perfect fit in terms of geography, operational set-up and company values.
Alain Milgrom, president-founder SOLO Group, said: “The still fragmented promotional market today is more and more demanding service and efficiencies across the value chain. Our objective has always been to deliver the best service to our customers, always acting in ‘Fair Spirit’. This includes offering a full-service solution to stimulate the appeal for promotional textiles with end-users. When combining the strengths of both companies, this is exactly what I envision to happen, in the best interests of all our customers.”
Stephen Gibson, CEO of midocean said midocean had always envisioned a collaboration with an established textile specialist of promotional textiles.
“This will instantly strengthen the company’s presentation as a multicategory- specialist supplier, resulting in the most comprehensive item portfolio in the industry, instantly available including print/ decoration.”
Audélia Krief, CEO of SOLO Group said that combining both companies would give customers direct access to extensive inventories of promotional textiles that will be decorated and drop shipped to end-users as efficiently and quickly as resellers have become used to for hard goods.
Paris-based SOLO was established in 1991 and had revenue in 2021 of €160m, with more than 200 employees. midocean employs more than 800 people and had 2021 revenue of €130m.
