Awards.com Buys SkyMall Subsidiary
Awards.com, a corporate gifts and motivational products vendor based in Lyndhurst, NJ, has purchased Durham & Company from SkyMall, Inc. In return for the logo and identity business, SkyMall received an equity interest in Awards.com, including a seat on the Awards.com board, and a note receivable.
“We had made little growth progress with the Durham business over the last two years and felt this business would be best situated with an aggressive player whose sole emphasis was to create a strong brand in this large, fragmented and unbranded industry segment,” said Robert M. Worsley, SkyMall’s founder and CEO, in a statement.
Worsley continued, “The sale of Durham allows SkyMall’s management team to stay totally focused on our core competencies and deliver the operating objectives we have defined for 2001.”
SkyMall sells consumer goods through a variety of channels, including its in-flight catalog, which is available on nearly three-fourth of all domestic United States flights.
