All Things Considered Group PLC (AQSE:ATC), the Aquis-quoted independent music firm, announced its subsidiary Sandbag Ltd has acquired the business assets of California-based merchandise management company Control Industry Inc.
In a deal worth up to US$760,000, with $520,000 paid upfront, Sandbag is picking up business names, intellectual property and client contracts.
The deal adds a 'full-service' merchandise management for touring artists and events with high-profile clients, including Black Eyed Peas, Billy Joel and Diana Ross, and retail partners such as Amazon, Macy’s and Urban Outfitters.
Control Industry founder Ricky Riker joins ATC as President of Sandbag USA, supported by three team members who will help drive the group’s expansion in the United States.
Adam Driscoll, ATC chief executive, described it as an exciting step forward for ATC's operations in the United States.
"Supported by his team, Ricky brings strong client relationships, proven sales expertise, and a deep understanding of the US market," Driscoll said.
"We are confident that this acquisition will accelerate our growth and further strengthen our ability to support artists with a full suite of services."