Counselor’s exclusive ranking of the distributors with the most revenue in the promotional products industry.

Deluxe/Safeguard

(asi/316203)

In February, Deluxe Corp. agreed to sell Safeguard – part of the company since 2004 – to Counselor Top 40 distributor Proforma (asi/300094). For this year’s Top 40 list, Deluxe included Safeguard's 2025 results (comprising roughly 150 distributors) in its financial submissions to Counselor. Calling the deal “a win-win,” Tracey Engelhardt, president of print for Deluxe, said at the time of the announcement that the move “will help accelerate our revenue mix shift toward our payments and data businesses, a key strategic priority.” The company’s North American promo revenue declined over 12% (and its global “promotional solutions sector” declined over 15%, from $262 million to $222 million) due to what it says is softness in the market. Still, publicly traded Deluxe isn’t exiting the promo industry.

$1.14B
Reported 2025 revenue in company’s print segment

The Minneapolis-based company continues to operate a promotional products and print marketing division that traces its roots to InkHead, a distributor Deluxe acquired in 2016. “In the promotional segment,” says Jody Telander, senior director of merchandising – promotional solutions, “we remain focused on relationships and delivering solutions that help customers promote and protect their brands while generating a strong ROI.”