Jacksonville, Florida-based Acosta, an integrated sales and marketing services provider, has signed a definitive agreement to acquire Premium Retail Services, a 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 commitment to provide a suite of progressive service offerings. The combination of Acosta and Premium will provide clients of both companies with insights and execution to increase sales and win in the modern retail marketplace.
The deal is expected to close in early December, pending all necessary approvals and closing conditions.
“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.
“Gaining access to Acosta’s reach and broad scope of capabilities, including business intelligence and e-commerce, will enable us to get ahead of trends and provide progressive solutions for the ever-evolving shopper,” said Kevin Travers, co-CEO of Premium.
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 service and solutions which they have come to expect from both companies.
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.