Two industry leaders will have strong exposure to growing graduation categories and an ability to reach consumers across virtually all channels
Dallas, TX (May 20, 2019)– American Achievement Corporation®, the preeminent manufacturer and digital retailer of customized products including yearbooks, jewelry, photo and print products, graduation supplies and apparel, has completed its merger with Iconic Group®, the leader in graduation photography in the United States. This creates an unparalleled product and service offering in the scholastic and collegiate graduation market. The merger closed on May 7, 2019.
American Achievement Corporation® (AAC) is the parent company of the highly recognizable brands Balfour®, ArtCarved®, Keepsake®, Taylor Publishing® and Gaspard® Cap and Gowns. With recent investments in process innovation and technology, Balfour leads the industry in new product development and user-first software to better serve the needs of its customers.
AAC's investors were initially drawn to Iconic Group® because of its position as the dominant provider of photography services at college and university graduations. Iconic Group’s track record of flawless execution and innovation is unrivaled in the industry. The company, operating under the GradImages®, University Photo® and MarathonFoto® brands, provides professional photography to more than 2,500 colleges and universities each year.
"Together we are better positioned to serve our clients and deliver the best of both companies' talents, systems and processes," said Bob Myers, President and CEO of American Achievement Corporation. "With the ability to cross-sell, we’re creating a graduation experience for schools, students and families alike that is unmatched in the industry."
The highly complementary combination will leverage the increased resources of the two companies and provide a best-in-class experience for graduation photography, products and services that celebrate the most memorable moments in a student’s life.
"The addition of graduation and on-campus photography to AAC's already robust lineup of products and services is a win for both brands' client base," Denise Conroy, CEO of Iconic Group said. "Iconic Group’s attractive business model fits very well with AAC. Together, we share a purpose-driven culture and client-first mentality."
The combined company will be headquartered in Dallas, while continuing Iconic Group’s operations in Atlanta and Tallahassee, FL.
For more than a century, American Achievement Corporation® has celebrated the most meaningful moments in students’ lives. Operating under the brands Balfour®, ArtCarved®, Keepsake®, Taylor Publishing® and Gaspard® Cap and Gowns, it leads the industry with products like class rings, yearbooks, letter jackets and graduation regalia. With recent investments in digital technology and product innovation, AAC is innovating tradition with best-in-class software for yearbooks, 3D printing for rings and school enrichment programs aimed at positively affecting campus culture. For more information, visit www.balfour.com.
ABOUT ICONIC GROUP, INC.:
Iconic Group is the undisputed leader in professional commencement photography. The company takes over 50 million images annually at over 2,500 colleges, universities and high schools. Operating under the GradImages®, and University Photo® brands, Iconic Group is renowned for flawless execution through its unparalleled network of photographers and leading-edge technology. The company is the best in the business at handling some of the largest and most complex graduation events. For more information, visit http://www.iconicgroup.com..
Amanda Reynolds | Director, Corporate Communications | [email protected]