Acquiring Minds Tweeter Makes a Big Deal Out of Being Small
One of those psychological issues occurred when Tweeter acquired Douglas TV and United Audio Centers, competitors in the Chicago area, in a short span of time. Sapienza said, "The staff had hated each other for 30 years, and now we're saying 'you guys are all brothers; you're all together.' " The company worked out the problem by changing both chains' names to Tweeter and then gradually interchanging employees from the locations of one former chain to the other.
Problems such as those are not always expected, but over the course of eight acquisitions, with all the members of the key corporate management in place, Tweeter has developed a formula for transitioning acquired locations into Tweeter stores. "We have an acquisition procedure checklist that's developed over time," Sapienza said. "Every department of the company is supposed to go through a routine, whether it's accounting, MIS, merchandising or marketing."
Sapienza is very confident that Tweeter's formula for handling acquisitions will continue to operate smoothly. "We're like this big ball rolling down the hill, gathering steam, and we're picking up friends as we go," he said. "We seem to find some talented people at every acquisition, and they become part of the management of the overall company."