Two leaders in the US and Canada Incentive, Rewards, and Recognition (IRR) marketplace join forces to provide North America solution.
Under the acquisition of KLF by Incentive Concepts, the new partnership brings together KLF’s full-service capabilities, proprietary technology and portfolio of brands in Canada with the Incentive Concepts suite of master fulfillment and brand support services in the US IRR market.
Under the agreement, KLF Group and Incentive Concepts will operate as sister companies covering North America, with Incentive Concepts managing business in the US and KLF managing business in Canada. KLF’s Chief Operating Officer, Hyun-Hee Pyun, will continue to lead the Canadian company.
According to company statements, “The new partnership is underscored by multiple synergies, with Incentive Concepts and KLF Group sharing many of the same values and workplace culture attributes. Both companies are fully committed to fostering an environment of empowerment where ideas are valued, continuous individual growth is encouraged, and the sky is the limit. Both companies recognize the opportunities this partnership presents and are excited at the possibilities that lie ahead.”
Founded in 2005 by François Fortier, KLF “has led the way in the premium loyalty and incentive industries by developing, implementing, and fulfilling rewards and recognition experiences” in Canada. The company says its full-service approach, “which includes data-enabled analytics, best-in-class distribution, an integrated rewards marketplace, and Loyalty Source, its sourcing and account management division – have helped some of Canada’s most prominent organizations improve the quality of their rewards programs while also reducing operating costs.” KLF Group was included in Globe and Mail’s 2019 list of the Top Growing Companies in Canada, the company reports.
In making the acquisition, “Incentive Concepts gains an opportunity to bolster its superior customer service and reward fulfillment capabilities with KLF Group’s proprietary supplier technologies and state-of-the-art systems. KLF represents more than 400 brands, inventories all products in an owned and operated warehouse, and prides itself on having industry-leading response and ship times,” according to the company statement.
“We were intrigued and excited about this opportunity from the start” says Joe Reinberg, President and CEO of Incentive Concepts, in the statement. “Our strengths complement each other in a way where, once properly integrated, both companies will possess increased capabilities to provide customers, as well as suppliers, a more robust offering of solutions.”
“We felt that Incentive Concepts was the perfect partner to take our incentive programs to the next level,” says Hyun-Hee Pyun, KLF’s COO, in the company statement. “With their experience and our expertise, we will be able to learn from one another and perfect our services as leaders in our industry, while customers will continue to be served by the same Canadian team in the same place.”
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Joe Reinberg, President
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