{"id":2909,"date":"2024-01-31T00:00:00","date_gmt":"2024-01-31T00:00:00","guid":{"rendered":"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/"},"modified":"2024-01-31T00:00:00","modified_gmt":"2024-01-31T00:00:00","slug":"advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness","status":"publish","type":"mrktblog-posts","link":"https:\/\/youradv.com\/mrktblog\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/","title":{"rendered":"Advantage Selling Foodservice Businesses; Makes Other Moves to Streamline Business and Improve Effectiveness"},"content":{"rendered":"

Advantage Solutions, a leading provider of sales and marketing services to consumer goods manufacturers and retailers, said Wednesday<\/a> it is selling its collection of foodservice businesses, including Waypoint, to Prospect Hill Growth Partners L.P.<\/p>\n

The company said the sale will streamline its portfolio, allowing it to focus on its core retail businesses and strengthen its balance sheet.<\/p>\n

Advantage also said Wednesday<\/a> it has entered into two separate agreements with third-party technology companies to optimize back-office costs and effectiveness.<\/p>\n

Portfolio Realignment and Growth Priorities<\/h2>\n

As part of the sale to Prospect Hill, Advantage\u2019s foodservice businesses, including Waypoint, Marlin Connections, Primeline, CSSI, Ettros, Halverson Group and Coleman and Greear & Associates, will combine with KeyImpact Sales & Systems to form Acxion Foodservice. Advantage will receive total proceeds of approximately $100 million, a combination of mostly cash and an ongoing 7.5% stake in the combined entity. In addition, Advantage will obtain a seat on Acxion\u2019s board of directors.<\/p>\n

\u201cWhile we continue to see growth potential in the foodservice category, we believe our clients are best served when we focus on our core retail capabilities while partnering to compete in adjacent segments,\u201d said Advantage CEO Dave Peacock. \u201cThis deal allows Advantage to further prioritize other growth efforts in a more focused way. We are excited to partner with Acxion on an ongoing basis, and we look forward to sharing in the company\u2019s success going forward.\u201d<\/p>\n

Advantage plans to use the majority of the proceeds of the deal to pay down debt, a move the company said will further strengthen its balance sheet and allow for strategic investments in its core businesses.<\/p>\n

\u201cSimplifying our business sharpens our focus on how we convert shoppers into buyers for both our consumer-packaged goods and retailer customers,\u201d Peacock said. \u201cThe strategic decisions we\u2019re making at Advantage are designed to improve how we serve our clients and customers, while helping us improve cash flow and position the company for profitable growth.\u201d<\/p>\n

Strategic Partnerships Fuel Operational Efficiency<\/h3>\n

The sale is Advantage\u2019s latest business initiative focused on its broader plan to accelerate growth. The company is also taking steps to optimize and improve a host of business process and administrative functions.<\/p>\n

Under a new agreement, Advantage will team with Genpact, a global leader in business and technology services, to create an innovative go-to-market model leveraging the strengths of Advantage\u2019s client management capabilities and connectivity within the consumer goods and retail industries and Genpact\u2019s advanced, AI-powered technology, process orientation and automation to deliver certain back-office services more efficiently and on a much larger scale.<\/p>\n

Through a separate deal with Tata Consultancy Services (TCS), Advantage is modernizing its IT services in a move designed to significantly improve the availability and speed of its IT support services and the management of hardware. As part of the agreement, TCS will transform Advantage\u2019s IT services, including its help desk, device provisioning, infrastructure and applications.<\/p>\n

\u201cBoth initiatives will make Advantage stronger, more nimble, more competitive and better enable us to drive our clients\u2019 and our customers\u2019 businesses,\u201d Peacock said. \u201cImportantly, these strategic decisions are designed to help us improve our financial discipline and position Advantage for profitable growth.\u201d<\/p>\n

These moves are part of Advantage\u2019s broader focus on business growth strategies<\/strong>, aimed at driving margin improvement, cost reduction, and scalable efficiency.<\/p>\n

The latest moves follow a series of deals completed by Advantage in late 2023 intended to improve cash flow, improve margins, reduce debt and fuel profitability. Those include the sale of Atlas Technology Group to Crisp<\/a>, which occurred in October, and the company\u2019s December announcement to streamline and restructure its international businesses, most notably reducing its stake in Advantage Smollan Limited<\/a>, a joint venture with the Smollan Group operating in Europe.<\/p>\n

\u201cPart of accelerating our growth and simplifying our business involves evaluating how we work and where we deploy our resources,\u201d Peacock said. \u201cAs we examine the best way to support our core business, we\u2019ll look at all areas of our organization to ensure they fit within our overall strategy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Advantage Solutions, a leading provider of sales and marketing services to consumer goods manufacturers and retailers, said Wednesday it is selling its collection of foodservice businesses, including Waypoint, to Prospect Hill Growth Partners L.P. The company said the sale will streamline its portfolio, allowing it to focus on its core retail businesses and strengthen its […]<\/p>\n","protected":false},"featured_media":2170,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"mrktblog-category":[41],"class_list":["post-2909","mrktblog-posts","type-mrktblog-posts","status-publish","format-standard","has-post-thumbnail","hentry","mrktblog-category-advantage-news"],"acf":[],"yoast_head":"\nAdvantage Refocuses With Business Sale<\/title>\n<meta name=\"description\" content=\"Learn how Advantage is restructuring operations and investing in business growth strategies to enhance focus and efficiency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advantage Refocuses With Business Sale\" \/>\n<meta property=\"og:description\" content=\"Learn how Advantage is restructuring operations and investing in business growth strategies to enhance focus and efficiency.\" \/>\n<meta property=\"og:url\" content=\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/\" \/>\n<meta property=\"og:site_name\" content=\"Advantage Solutions\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youradv.com\/wp-content\/uploads\/2024\/01\/AdvanatgeSolutions_NewsTile-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youradv.com\/mrktblog\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/\",\"url\":\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/\",\"name\":\"Advantage Refocuses With Business Sale\",\"isPartOf\":{\"@id\":\"https:\/\/youradv.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/#primaryimage\"},\"image\":{\"@id\":\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/youradv.com\/wp-content\/uploads\/2024\/01\/AdvanatgeSolutions_NewsTile-2.jpg\",\"datePublished\":\"2024-01-31T00:00:00+00:00\",\"description\":\"Learn how Advantage is restructuring operations and investing in business growth strategies to enhance focus and efficiency.\",\"breadcrumb\":{\"@id\":\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/#primaryimage\",\"url\":\"https:\/\/youradv.com\/wp-content\/uploads\/2024\/01\/AdvanatgeSolutions_NewsTile-2.jpg\",\"contentUrl\":\"https:\/\/youradv.com\/wp-content\/uploads\/2024\/01\/AdvanatgeSolutions_NewsTile-2.jpg\",\"width\":600,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"\/advantage-news\/advantage-selling-foodservice-businesses-makes-other-moves-to-streamline-business-and-improve-effectiveness\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youradv.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Advantage Selling Foodservice Businesses; 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