Situation:

Herff Jones is a 100-year old brand in the scholastic and collegiate channels specializing in commemorating student and athletic achievement. The Company offers a comprehensive portfolio of personalized and custom products including graduation caps and gowns, diplomas and fine paper announcements, and class rings and other commemorative jewelry.

Ameridan’s Role:

An investor group was considering an acquisition of the firm. Ameridan was asked to provide a market assessment focused on:

• A mapping of the US market for achievement recognition products, including market demand by segment, historical and future growth trends, and channels to market;
• The US competitive landscape, including the Company's market position by product segment, competitive strengths & weaknesses, and competitive dynamics;
• Factors that affect the stickiness of end-customers (and the recurring nature of revenue) including sales representative relationships, the perceived value of the Company’s brands, switching costs, and sales/delivery models;
• Market and sales representative perceptions of the Company, including views on product quality, service, competitiveness, and management;
• A competitive class ring pricing analysis, based on publicly available pricing data;
• Demographics of school administrators and implications for customer stickiness.

The transaction was closed in October 2023.