Advantage Solutions Further Simplifies Portfolio by Selling Its Collection of Foodservice Businesses to Prospect Hill Growth Partners to Form Acxion Foodservice [Yahoo! Finance]
Advantage Solutions Inc. - Class A (ADV)
Company Research
Source: Yahoo! Finance
consumer goods manufacturers and retailers, today announced it has sold its collection of foodservice businesses, most notably Waypoint, to Prospect Hill Growth Partners, L.P. As part of the sale, the foodservice businesses will be combined with KeyImpact Sales & Systems Inc., with Advantage receiving total proceeds of approximately $100 million, which is a combination of mostly cash and an ongoing 7.5% stake in the combined entity. The sale will streamline Advantage's portfolio, allowing the company to focus on its core retail businesses and strengthen its balance sheet. As a result of the transaction, which closed today, KeyImpact will combine with Waypoint, Marlin Connections, Primeline, CSSI, Ettros, Halverson Group and Coleman, Greear & Associates to form one of North America's leading foodservice solutions agencies, Acxion Foodservice (www.acxion.com). In addition to its stake in Acxion, Advantage will obtain a seat on its board of directors. “Acxion is the perfect partner
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- BarkleyOKRP Acquires Performance Media and Marketing Technology Company Adlucent [Yahoo! Finance]Yahoo! Finance
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- Advantage Solutions takes next step to simplify portfolio by selling digital marketing agency Adlucent to BarkleyOKRPGlobeNewswire
- Advantage Solutions Announces Date for 1Q’24 Financial Results and Conference Call; Management will participate in the Morgan Stanley Business Services ConferenceGlobeNewswire
- Balancing Premium Expectations Without Premium Budgets [Forbes]Forbes
ADV
Earnings
- 2/29/24 - Miss
ADV
Analyst Actions
- 3/1/24 - TheStreet
ADV
Sec Filings
- 5/2/24 - Form 4/A
- 5/2/24 - Form 4/A
- 5/2/24 - Form 4/A
- ADV's page on the SEC website