KENTWOOD — Great Lakes Scrip Center Inc., a West Michigan-based provider of gift cards for fundraising, was acquired by Minneapolis, Minn-based Bold Orange, a recently formed marketing firm.
Over 23 years, Great Lakes Scrip Center has worked with more than 48,000 organizations to raise $680 million. The company last spring acquired The Manna Group in Palatine, Ill. and was the largest gift card company in the nation.
“Great Lakes Scrip Center has done a fantastic job of deepening connections among communities, loyal supporters and the brands they love, and we are excited to build on that legacy and drive greater engagement for our partner and retail organizations and the millions of families that are connected through this powerful network,” Bold Orange founder and CEO Margaret Murphy said in a statement about the deal. “Together with their talented team of employees, we plan to blend traditional scrip fundraising with a more modern digital experience — connecting with people in ways that are even easier, more relevant, and more meaningful.”
Great Lakes Scrip Center works with more than 750 major retailers such as Target, Best Buy, Amazon, Starbucks, Walmart and Speedway. Consumers buy gift cards online and select an organization they want to support. Those organizations receive a rebate of between 2 percent and 16 percent.
“Building this company over the last 23 years has been an incredibly fulfilling journey for my family and all of our dedicated employees,” said Jack Smith, former CEO of Great Lakes Scrip Center. “We are thrilled to be handing over the leadership at this exciting time in our industry to Margaret Murphy and Bold Orange.”
Terms of the deal were undisclosed. Bold Orange secured financial backing from Denver-based private equity firm Mountaingate Capital.