Ha-Lo Industries Inc., Niles, IL, which distributes promotional and premium advertising products, will acquire Grotte Advertising Co., a privately held promotional products company located in Houston. Terms of the transaction were not disclosed. Grotte has projected 1999 revenues of $5 million. Its key clients are AIM Management and American General Annuity.
Separately, Ha-Lo’s board of directors declared a 3-for-2 stock split to be paid as a 50% stock dividend on its common stock. The split is payable February 19, 1999 to shareholders of record on February 5, 1999. Currently, there are about 32 million shares outstanding. Following the stock split, the company will have about 48 million shares outstanding.
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