Delta Apparel Inc., Duluth, Ga., recently announced that Art Gun LLC, its wholly-owned subsidiary, has acquired substantially all of the assets of TeeShirt Ink Inc. dba DTG2Go, a provider of direct-to-garment (DTG) printed products.
The integrated business will operate from multiple locations in Florida, as well as a location in Nevada serving the western United States, with immediate plans to begin production in Fayetteville, N.C. to service the northeastern United States. With this acquisition, Art Gun nearly doubles its revenue and capacity, broadens its product line into posters, stickers and other items, and further enhances service levels through quicker delivery capabilities both across the U.S. and in more than 100 countries worldwide.
Delta Apparel also announced plans to change the name of Art Gun LLC to DTG2Go LLC and market the consolidated digital print business under the DTG2Go brand name.
“Art Gun’s acquisition of the DTG2Go business is another example of our continued focus on areas of our business where we expect high growth opportunities,” says Robert W. Humphreys, chairman and CEO of Delta Apparel. “We see the digital print model revolutionizing the way traditional retailers, e-retailers, and the ad-specialty industry conduct business. Over the past five years, DTG2Go has achieved notable success and we are excited to have the talented DTG2Go personnel as part of our team focused on further increasing our share of this growing market. We plan to continue to invest in equipment and geographic expansion, and look forward to the many opportunities for strong growth at DTG2Go.”
The purchase price consists of $16.35 million in cash and additional payments contingent on certain performance targets. Delta Apparel expects this acquisition to be immediately accretive to earnings and increase revenue by about $7 million during the remainder of fiscal year 2018. With the full-year benefit of the acquisition in fiscal year 2019, DTG2Go’s contribution is expected to generate about $20 million in incremental revenue. — J.L.
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