SkyMall Inc. has agreed to sell its Durham & Co. logo and identity business to Awards.com in exchange for equity interest in Awards.com, SkyMall said yesterday.
The sale of the subsidiary allows the cataloger to focus more on its core business, said Robert Worsley, founder/CEO of SkyMall, Phoenix. SkyMall will hold a seat on Awards.com's board.
SkyMall is a multichannel specialty retailer best known for its in-flight catalogs. Durham & Co. offers logo merchandise and recognition products to employees.
“We had made little growth progress with the Durham business over the last two years,” Worsley said in a statement. “[We] 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.”