Business Impact Group, a Chanhassen-based provider of corporate promotional wear and related products, said Thursday it was buying Anderson Performance Improvement Co., a Hastings-based specialist in employee incentive services.
The deal unites two founder-led firms that have become sizable players in an industry that helps corporate sales and human resources divisions develop employee recognition programs, incentives and bonuses. Terms weren't disclosed.
Louise Anderson, founder and chief executive of Anderson, will become a vice president at Business Impact Group, which is also known as BIG and led by its founder Paul Taunton.
"Louise brings additional industry knowledge and perspective to BIG's already established recognition team," Taunton said in a statement. "She will lead her team with her strong expertise and high visibility. We are thrilled to have her on board."
Anderson, who started her company 20 years ago, is currently president of the Incentive Marketing Association, the national trade group for the corporate incentives industry.
Taunton started Business Impact Group 10 years ago after building a chain of 104 apparel stores that he sold to Foot Locker in 1998. BIG originally sold uniforms and clothing customized with corporate brands before expanding into employee retention and incentive programs. The firm's 2013 revenue exceeded $50 million, a spokeswoman said.
Evan Ramstad • 612-673-4241
