Brand marketing and promotional products company Ha-Lo Industries, Niles, Ill., said it will acquire Chicago-based Starbelly.com. for $19 million in cash and Ha-Lo stock that will bring the value of the deal to $240 million. Ha-Lo plans to merge its promotional products group with the 10-month-old Starbelly, a custom-decorated merchandise marketer that it said operates more than 100 virtual stores, to create a single division under the Starbelly.com name. Halo President-CEO John Kelley said Starbelly co-founder Brad Keywell will assume the post Ha-Lo president and Starbelly co-founder Eric Lefkofsky will become Halo chief integration officer. Mark Linderman, currently president of Ha-Lo's promotional products group, will become president of Starbelly.com.e.
Copyright January 2000, Crain Communications Inc.