- Transaction will unite trusted agency brands and businesses
with industry-best talent, capabilities, and technology
- Acosta Group intends to maintain the CROSSMARK and Product
Connections brands within its agency portfolio
- Acquisition represents further investment in company's
transformation and expansion of its agency capabilities over the
last three years
JACKSONVILLE, Fla., May 22, 2024
/PRNewswire/ -- Acosta Group announced today that it has signed a
definitive agreement to acquire CROSSMARK, including its
headquarter Sales Agency and Retail Solutions businesses, and
Product Connections, a marketing services business, from WIS
International. WIS International will retain its inventory
verification services business. This transaction will further
accelerate Acosta Group's ongoing transformation, enhancing the
company's role as a proven growth engine for brands – from emerging
to iconic – across all retail channels.
"The acquisition of CROSSMARK and Product Connections
organizations, with outstanding people and complementary sales,
retail, and marketing services and solutions, represents another
milestone in our transformation journey," said Brian Wynne, CEO of Acosta Group. "Today's
announcement reflects our commitment to continued investment in our
people, technology, client and customer relationships, and business
overall, creating enhanced value for all of our stakeholders."
"Our strong balance sheet enables us to make these strategic
investments," added Wynne. "Our acquisition of CROSSMARK and
Product Connections will strengthen our ability to provide valuable
services for our customers in an industry facing persistent
macroeconomic challenges, changing consumer behaviors, and further
CPG and retailer consolidation. We look forward to elevating how we
serve brand owners and retailers with leading-edge solutions to
deliver on our purpose of connecting consumers with the brands they
love."
Complementary Sales & Marketing Agency
Capabilities
Acosta Group, CROSSMARK, and Product Connections have
complementary offerings and highly accomplished agency teams that
deliver innovative, insights-based strategy, execution and results
to clients and customers across all verticals, categories, and
channels.
Acosta Group launched its newly unified brand in early
2023 to build on the company's 96-year legacy and align its
omnichannel retail, marketing, and foodservice agencies to provide
seamless access to its end-to-end solutions and unlock growth for
its clients and customers. Building on our investments in the sales
and marketing agency space, Acosta Group is committed to
seamlessly onboarding the well-established CROSSMARK and
Product Connections agency brands and businesses to help
grow and expand the company's capabilities and suite of
services.
The CROSSMARK and Product Connections sales and marketing
agencies have served brands and retailers for more than 100 years,
and the company's core services today include headquarter sales,
retail services, and marketing services.
"Based on Acosta Group's successful transformation under Brian
and his leadership team, we are confident they will be a strong
steward of CROSSMARK, Product Connections, and our customers and
people for the long term," said Jim
Rose, CEO of WIS International. "We are excited about the
opportunities that being a part of Acosta Group will create for our
CROSSMARK and Product Connections associates, clients, and
customers."
Clear Stakeholder Benefits and Opportunities
The combination will bring together the best of these trusted
brands and organizations across omnichannel retail in an
increasingly competitive and disruptive macroenvironment. The
expected benefits of a combined Acosta Group, CROSSMARK, and
Product Connections include:
- Delivering an expanded set of services and solutions across
categories, channels, and geographies. Acosta Group clients
will now have access to Product Connections' notable in-store
sampling & demonstration expertise, while CROSSMARK and Product
Connections clients will be able to tap into Acosta Group's suite
of digital commerce solutions designed to help brands maximize
sales and impressions on Amazon, retailer.com websites, and retail
media.
- Strengthening retail service delivery and execution.
Acosta Group's field management technology is purpose-built to
manage the industry's most robust merchandising organization. This
acquisition will ensure clients throughout the combined agency
collective will benefit from optimal execution and transparency
around their retail ROI.
- Elevating how the company serves the full array of clients,
from emerging to iconic brands. Acosta Group plans to continue
making significant new investments to strengthen its services and
solutions for emerging and medium-sized brands, unlocking access to
greater data, analytics, insights, digital commerce capabilities,
and innovation.
- Doubling down on investments to develop and grow the
company's diverse, talented workforce. Acosta Group, CROSSMARK,
and Product Connections are committed to enhancing associates'
skills and facilitating cross-agency mobility. This acquisition
will open new avenues for associate learning and development and
career pathing across our expanded agency collective.
Additional Post-Close Information
Following the close of the transaction, Acosta Group will
continue to be led by Brian Wynne,
CEO of Acosta Group. Jim Rose will remain as WIS
International's CEO, leading the inventory verification services
business. Completion of the transaction is subject to customary
closing conditions, including regulatory approval.
About Acosta Group
Acosta Group is a collective of the
most trusted retail, marketing and foodservice agencies empowering
brands and retailers to win in the modern marketplace. By
delivering transformative, commerce-focused solutions and more than
95 years of expertise, Acosta Group connects brands with people at
every point in the consumer journey.
Comprised of Acosta, ActionLink, CORE Foodservice, Mosaic and
Premium Retail Services, Acosta Group understands and anticipates
evolving consumer needs, fueling accelerated performance to connect
tomorrow's commerce today. For more information, please visit
acosta.group.
About WIS International
Headquartered in Dallas, Texas, WIS International stands as a
well-recognized leader in inventory data collection and retail
services. Its leadership position has been earned through the
support of over 20,000 dedicated and experienced associates.
Working together, they assist the retail, healthcare,
manufacturing, warehouse, and specialty sectors in reducing costs
and increasing profits. With accuracy and efficiency as paramount
benchmarks, WIS delivers retail services, proprietary inventory
counting technology, real-time reporting, and powerful insights
that aid customers in becoming more efficient and effective. For
more information, please visit WISINTL.com.
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SOURCE Acosta Group