Acosta Sales and Marketing Secures New Investment
JACKSONVILLE, Fla. -- Leading sales and marketing agency Acosta Sales and Marketing Co. here has signed a definitive agreement for an equity investment by AEA Investors, a New York-based private equity investment firm.
The agreement follows Berkshire Partners' 2003 investment, which produced "solid growth" for privately held Acosta, according to the company.
Acosta's shareholder base of more than 200 active employees will retain a significant equity investment in the latest business. Terms of the transaction weren't disclosed.
"We are very excited to partner with AEA Investors," said Gary Chartrand, Acosta chairman and c.e.o. "This transaction validates Acosta's leadership position in the industry. AEA has an established track record of investing and backing management in respected companies with a history of positive earnings growth and strong growth potential."
Following the transaction, Acosta's leadership will continue to manage the operations of the organization. Gary Chartrand will continue serving as chairman and c.e.o., Jack Laurendeau as president, and Robert Hill as president of operations.
The transaction is expected to close in July 2006.
As well as working with every major food and grocery retailer in North America, Acosta represents almost 25 percent of the inventory in store warehouses, including many product categories' leading brands.
The agreement follows Berkshire Partners' 2003 investment, which produced "solid growth" for privately held Acosta, according to the company.
Acosta's shareholder base of more than 200 active employees will retain a significant equity investment in the latest business. Terms of the transaction weren't disclosed.
"We are very excited to partner with AEA Investors," said Gary Chartrand, Acosta chairman and c.e.o. "This transaction validates Acosta's leadership position in the industry. AEA has an established track record of investing and backing management in respected companies with a history of positive earnings growth and strong growth potential."
Following the transaction, Acosta's leadership will continue to manage the operations of the organization. Gary Chartrand will continue serving as chairman and c.e.o., Jack Laurendeau as president, and Robert Hill as president of operations.
The transaction is expected to close in July 2006.
As well as working with every major food and grocery retailer in North America, Acosta represents almost 25 percent of the inventory in store warehouses, including many product categories' leading brands.