Fully remote distributorship Whitestone has announced the acquisition of Design Like Whoa, a multi-million-dollar distributorship founded in San Francisco.
- Based on the acquisition, Joseph Sommer, president and founder of Whitestone (PPAI 666851, Silver), is projecting more than $20 million in annual total revenue for 2024.
- The deal comes on the heels of Whitestone acquiring Merchful, a multi-million-dollar distributorship with offices in Toronto, London, Dublin and Los Angeles, last week.
Sommer says the goal is to grow the company through M&A activity over the next decade, aiming for between seven to 10 acquisitions.
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“We believe we can be an incredibly attractive alternative to the traditional buyers in the industry who rely on outdated commissioned sales models,” Sommer says. “We’re active in the market and are always looking to meet with owners who are thinking about finding new homes for their business.”
Growth Opportunities
Founded in 2011, Design Like Whoa (PPAI 666851, Silver) is a women-owned and operated business that provides customized corporate apparel and accessories with a focus on sustainably made goods.
“Not only does Whitestone offer ample growth opportunities for our team, but our cultures and values are incredibly aligned,” says Gemma Burbach, founder and CEO of Design Like Whoa, who will become director of growth at Whitestone.
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“This partnership will provide further benefits and growth opportunities for our team, as well as our clients who will now be part of the Whitestone family. We have some amazing relationships, and I know they’ll benefit from Whitestone’s expertise and resources, which will help us provide an even higher level of support to them.”
With this acquisition, Whitestone gains Design Like Whoa’s client roster, as well as several talented and experienced professionals.
“We’re thrilled to welcome Gemma and her talented staff into our culture,” Sommer says. “I’ve known Gemma and her leadership team for several years, and when she shared that she was ready to transition the business, I immediately knew we would be a great fit for one another because of our shared passion for the business and approach and philosophy towards how we service our customers.”
- Last month, Whitestone joined Reciprocity Road, an alliance of 13 distributors located across the United States and Canada.
- The company has also made the Inc. 5000 list of the fastest-growing private companies in the U.S. for six consecutive years, ranking No. 2,207 in 2023 with a three-year growth rate of 252%.