Last updated on November 16th, 2017 at 09:39 am
Advantage Solutions and Daymon Worldwide are joining forces to create a suite of brand-centric and retailer-centric services for U.S. and international clients. Terms of the global transaction were not disclosed.
Advantage, based in Irvine, California, is a North American provider of business solutions to consumer goods manufacturers and retailers, with a suite of technology-enabled services that includes headquarter sales representation, business intelligence, merchandising and marketing solutions. Daymon is a solutions provider to retailers and brands, having been involved in the private brand industry since 1970 and offering a global service portfolio that includes strategy and insights, sourcing, packaging and branding design, in-store retail execution, and consumer experience marketing.
As part of the agreement, the current equity investors in Daymon will become part owners of the holding company for Advantage and appoint members to its board of directors. Daymon will continue to operate as a separate legal entity headquartered in Stamford, Connecticut.
“Today’s evolving, omni-channel landscape requires new, innovative solutions, and together, Advantage and Daymon will provide the furthest reach, deepest insights and broadest services—a collaborative effort that far exceeds what the organizations could achieve individually,” said Tanya Domier, Advantage CEO. “Combining Advantage’s strengths in brand-centric sales, marketing and technology solutions with Daymon’s strengths in retailer-centric solutions creates the strongest provider of manufacturer and retail services in the industry. The separation between brand-centric and retailer-centric businesses will enable each to focus on its core competencies while leveraging back-office scale.”
“Associates at Advantage and Daymon are aligned in their unstoppable drive to ensure that the return on investment for our business partners is greater than ever and that cash registers ring louder and more often,” said Jim Holbrook, Daymon CEO. “We all look forward to serving clients and customers with the best possible solutions to help drive their businesses—that is our commitment.”
The combination will operate in more than 45 countries, including multiple joint ventures, and constitute the only global solutions company with both brand-centric and retailer-centric services, say the companies. They add that having associates in markets across the Americas, Europe, Africa, Asia and Australia with “intimate global and cultural-specific knowledge uniquely enables Advantage and Daymon to partner with manufacturers and retailers all around the world.”
The transaction is subject to customary closing conditions.