Acosta
Sales & Marketing, a full-service sales and marketing agency in
the consumer goods industry, today announced it has signed a definitive
agreement for an equity investment by The
Carlyle Group (“Carlyle”), a global alternative asset manager.
Carlyle will purchase the full ownership stake of funds affiliated with
Thomas H. Lee Partners, L.P. (“THL”). GIC, which is currently an
investor in Acosta, will re-invest in the company. Following the
investment, Acosta senior management will continue to lead the company,
and operations will remain the same. Acosta’s broad management team will
continue to have significant ownership of the company. Financial terms
of the transaction, which is expected to close in Q3 2014, were not
released.
“Acosta is well positioned to meet the changing needs of consumer
product manufacturers and retailers seeking more effective and efficient
outsourced sales and marketing solutions,” said Sandra Horbach, Managing
Director and Head of Carlyle’s Consumer & Retail team. “We are impressed
with the company’s associates, capabilities, and the quality of its
client and customer portfolios and its significant growth potential.”
“Acosta has benefited tremendously from its partnership with THL, and
their financial and operational expertise was an important component of
our growth and success,” said Robert Hill, President & CEO of Acosta.
“Carlyle has an established track record of investing in respected
companies with a history of positive growth. Together, we are
excited to lead Acosta into a new chapter with a focus on expanding
services to meet a broader set of client and retailer needs.”
“We have enjoyed working with Robert Hill and the management team at
Acosta and are proud of what we have accomplished together,” said Kent
Weldon, Managing Director at THL. “Acosta has built a world-class
business and expanded its footprint across North America. We wish Acosta
and its new partner the best in their future endeavors and are extremely
confident they will achieve continued success.”
Since Acosta first announced its partnership with THL in 2011, the
company has grown to more than 37,000 associates in 110 locations
throughout the U.S. and Canada. Acosta is the agency of choice and the
sales and marketing powerhouse behind most of the trusted brands enjoyed
by consumers at retail and foodservice.
Goldman Sachs & Co. and Barclays served as financial advisor and Weil,
Gotshal & Manges LLP served as legal counsel to Acosta. Morgan Stanley
and J.P. Morgan Securities LLC served as financial advisors and Latham &
Watkins served as legal advisor to Carlyle. Goldman Sachs, J.P. Morgan
Securities LLC and Morgan Stanley have agreed to provide debt financing
for the transaction.
About Acosta Sales & Marketing
Acosta
is the sales and marketing powerhouse behind most of the trusted brands
seen in stores every day. The company provides a wide range of
outsourced sales, marketing and retail merchandising services to
manufacturers and retailers throughout the U.S. and Canada. For more
than 85 years, Acosta has led the industry in helping consumer goods
companies move products off shelves and into shoppers’ baskets. Visit www.acosta.com.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager
with $199 billion of assets under management across 120 funds and 133
fund of funds vehicles as of March 31, 2014. Carlyle's purpose is to
invest wisely and create value on behalf of its investors, many of whom
are public pensions. Carlyle invests across four segments – Corporate
Private Equity, Real Assets, Global Market Strategies and Solutions – in
Africa, Asia, Australia, Europe, the Middle East, North America and
South America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer & retail, energy,
financial services, healthcare, industrial, real estate, technology &
business services, telecommunications & media and transportation. The
Carlyle Group employs more than 1,600 people in 38 offices across six
continents.
Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary
About Thomas H. Lee Partners, L.P.
Thomas H. Lee Partners, L.P. ("THL") is one of the world's oldest and
most experienced private equity firms. The firm invests in
growth-oriented global businesses, headquartered principally in North
America, across three broad sectors: Consumer & Healthcare, Media &
Information Services, and Business & Financial Services. Since its
founding in 1974, THL has raised approximately $20 billion of equity
capital and invested in more than 100 businesses with an aggregate
purchase price of more than $150 billion. THL strives to build great
companies of lasting value and generate superior investment returns. For
more information, please visit www.thl.com.
About GIC
GIC is a leading global investment firm with well over US$100 billion in
assets under management. Established in 1981, the firm manages
Singapore’s foreign reserves and is uniquely positioned for long-term
and flexible investments across a wide range of asset classes, including
public equities, fixed income, real estate, and private equity. In
private equity, GIC invests through funds as well as directly in
companies, partnering with our fund managers and management teams to
help world class businesses achieve their objectives. GIC employs more
than 1,200 people across 10 offices in Singapore, Beijing, London,
Mumbai, New York, San Francisco, Sao Paulo, Seoul, Shanghai, and Tokyo.
For more information, please visit www.gic.com.sg.
Copyright Business Wire 2014