Counselor’s exclusive ranking of the distributors with the most revenue in the promo products market.

HALO Branded Solutions (asi/356000)

Just a few years ago, HALO was the fifth largest distributor with revenue above $200 million. Since then, the distributor has embarked on an aggressive growth strategy (including multiple Top 40 acquisitions) that more than tripled its revenue. The results have paid off. After a decades-long gap – and even with a sales decline of 2.7% last year – HALO is once again the largest distributor in the promo industry.

That sales decline is also a bit deceiving. In 2019, HALO included revenue from gift cards, for which it serves as a clearing house, in its sales number. In 2020, HALO no longer included the gift card sales in its revenue recognition – an accounting practice that will be followed going forward. Had gift card revenue been included in the 2020 tally, HALO’s sales would have been $807 million. An apples-to-apples comparison under the new accounting practice shows that HALO’s 2020 industry sales rose 3.6%, from $739 million to $765.7 million. PPE business, an eclectic client portfolio, the acquisition of former Top 40 distributor Axis Promotions in January 2020, and significant sales based on employee recognition and rewards all powered HALO’s 2020 performance. Beyond growing sales in 2021, HALO aims to complete a transition to a new ERP system that will provide enhanced data integration with suppliers and clients.

Previous Rank: 2

2020 Revenue: $765.7

All revenue figures shown in $millions