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Score 57 - Close Watch: Performance textile co Polartec gets acquired, expands marketing team
Performance textile co Milliken in a deal that will close later this month. The terms of the transaction were not disclosed, and we have not yet determined how the acquisition will affect the companies' leadership teams. We'll keep you posted as we learn more.
In the meantime, reach out to keep top-of-mind. Milliken said it acquired the company to improve its textiles offerings and grow Polartec "in new and exciting spaces," so we believe the acquisition will see Polartec increase spend and review agency relationships. This is especially true since both Polartec and Milliken expanded their marketing teams.
Milliken hired Sherry Dreger as creative strategy VP, effective May. She most recently served as branding & strategic development VP at ARC-COM Fabrics, but also brings experience as marketing VP at Bentley Mills LA.
Meanwhile, Polartec hired David Karstad as marketing VP and creative director (brand CMO function), effective October. Prior to the appointment, he spent the last 18 years as founder and creative director of Frank Creative. He also brings experience as a creative director and copywriter at McElroy Communications, as well as a copywriter at Adidas.
Sellers -- since spend for Polartec is slated to increase under this marketing leadership and Milliken's leadership, reach out. Polartec typically uses sustainable initiative. It spends highly throughout the year.
Agency & martech readers -- reach out to remain top-of-mind for any reviews we may see under the new leadership and parent company. You may find competition from Milliken's agencies - Abernathy MacGregor handles PR. Focus pitches on helping Polartec differentiate itself from competitors like Onnit, Tasc and Hylete.
Adbeat reports digital display for Polartec over the last 12 months totaled $700, a decrease from the $1,100 spent during the 12 months prior. Ads are placed programmatically via other (78%) and Google (22%) onto sites misadventuresmag.com, sourcingjournalonline.com, ishn.com and bikebiz.com. Expect spend through this channel to go up under the new parent company and marketing execs.