Acosta Signs Agreement to Acquire Premium Retail Services and Broaden Omnichannel Reach
Deal delivers an unparalleled suite of integrated technology solutions designed to drive sales and improve the shopper experience
JACKSONVILLE, Fla., Nov. 16, 2021 /PRNewswire/ -- Acosta, an integrated sales and marketing services provider, announced today that it signed a definitive agreement to acquire Premium Retail Services (Premium), a leading provider of tech-enabled retail merchandising, in-store sales and training, advanced analytics, and other purpose-built solutions for omnichannel retail. The acquisition represents another step forward in Acosta's ongoing commitment to providing an unmatched suite of progressive service offerings for its clients. The combination of Acosta and Premium will provide clients of both companies with superior insights and execution to increase sales and win in the modern retail marketplace.
As a highly regarded industry leader, Premium represents another opportunity to expand Acosta's services through an increased presence in consumer electronics and drug channels, innovative proprietary technologies, advanced business intelligence, and unparalleled relationships with key retailers across North America.
"As Acosta has added scale, we have been intensely focused on adding new, on-trend capabilities and leading-edge technology to enable tomorrow's business needs," said Brian Wynne, CEO of Acosta. "Identifying organizations of integrity and innovation to help us blaze new trails in retail is central to our mission to deliver progressive solutions and exceptional service. We look forward to unlocking new opportunities for retailer partners, brand partners, associates, and shoppers. We are excited to welcome Premium's leadership and associates to the Acosta team."
"Premium's technology platform, combined with Acosta's data-led solutions and the unequaled access to field talent, will improve the ROI for clients of both companies," said Brian Travers, co-CEO of Premium. Added Kevin Travers, co-CEO of Premium, "Gaining access to Acosta's reach and broad scope of capabilities, including business intelligence and eCommerce, will enable us to get ahead of trends and provide progressive solutions for the ever-evolving shopper."
Although Acosta and Premium will offer clients a combined suite of services, each brand will continue to have its own identity in the marketplace. With the addition of more than 9,000 Premium employees, Acosta's combined workforce of nearly 30,000 employees will continue to provide clients of both companies with the high quality of service and innovative solutions which they have come to expect from both companies. Acosta's expertise in business solutions, consumer marketing, retail services, and eCommerce deliver results across North American foodservice and retail industries.
In the last year, Acosta has achieved sustainable and strategic growth through the acquisitions of Impact Group to bolster services for clients in emerging, natural, and specialty brands; and CORE Group, to further strengthen its foodservice offering for clients. Premium provides complementary solutions, alongside those of Acosta companies Mosaic and ActionLink, across multiple categories.
This acquisition will mark another chapter in Acosta's growth story to deliver on its purpose of connecting people with the brands they love.
The deal is expected to close in early December, pending all necessary approvals and closing conditions.
About Acosta
Acosta is an integrated sales and marketing services provider that enables consumer packaged goods brands and retailers to win in the modern marketplace by delivering progressive solutions and exceptional service. With more than 90 years of experience, Acosta understands evolving consumer needs and helps its clients and customers stay a step ahead, fueling their accelerated performance. For more information, please visit https://www.acosta.com/.
About Premium Retail Services
Premium has been pioneering bold retail strategies, tools, and technologies since 1985 with a single goal: to connect shoppers with the brands they love. Through a tailored approach, Premium helps retailers and manufacturers grow sales, uncover insights, and deliver quality at retail. For more information, please visit www.premiumretail.com.
SOURCE Acosta
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