As first reported in a Breaking News Alert last week, Top 40 supplier Hub Pen (asi/61966) has acquired Minnesota-based Beacon Promotions (asi/39250), the companies have announced. Terms of the deal, finalized in late December, were not disclosed. The companies will maintain different product lines, as well as separate production facilities, catalogs and ASI numbers.

“For more than 60 years, Hub Pen has focused solely on writing instruments and in doing so we were able to deliver the highest quality pens at a better value than anyone in the market,” said Joe Fleming, president of Hub Pen, in a statement. “Joining forces with Beacon Promotions enables us to apply that same passion for excellence to a broader product offering while continuing to deliver the best writing instruments in the industry.”

Per the terms of the agreement, both Fleming and Beacon Promotions president Gary Haley will remain in leadership roles. “Leadership within each of the companies will remain the same,” said Pamela Baker, a spokesperson for Hub Pen. Beacon and Hub Pen will continue to attend industry events, appearing for the first time together at next week’s PPAI Expo in Las Vegas.

“Any time you have an opportunity to partner with an industry leader like Hub and gain access to the great product lines they have, that’s very exciting for us,” Haley said. “We are really looking forward to adding Javalina pens to our broad promotional products portfolio.”

Counselor ranks Hub Pen as the 29th largest supplier in the industry, after the firm reported 2015 North American promotional product sales of $52.1 million.