ADVO announces completion of the sale of its Marketing Force subsidiary.WINDSOR, Conn.--(BUSINESS WIRE)--March 6, 1996--ADVO, Inc. (NYSE: AD) announced today that it has sold its Marketing Force subsidiary in an asset sale to The SPAR SPAR - Early system on Datatron 200 series. Listed in CACM 2(5):16 (May 1959). Group. ADVO had previously announced the treatment of Marketing Force as a discontinued operation for financial reporting purposes. The determination of whether any adjustment is required to the estimated Loss on Disposal of Discontinued Operations filed with ADVO's first fiscal quarter 10-Q, will be determined prior to the filing of ADVO's second quarter 10-Q in May. The SPAR Group, a privately held marketing services company headquartered in Tarrytown, N.Y., will combine its operations with Marketing Force's. Bob Brown, CEO of SPAR, said, "The joining of these two major marketing service companies will allow for enhanced client services, improved field execution, and efficiency that will benefit clients and retailers alike." Robert Kamerschen, CEO of ADVO, agreed that, "This is a matching of complementary skills that will put the excellent Marketing Force organization on the path that we had originally envisioned for it. ADVO will now focus on the growth and strengthening of its core business." SPAR Group has a broad array of services including merchandising, information and research. They provide sales enhancing activities across most all retail trade classes including grocery, mass merchandise, rug, department and specialty stores. ADVO is the nation's largest full-service direct marketing services company with annual revenues in excess of $1 billion. ADVO specializes in shared and solo direct mail services, to provide customized Microtargeting(R) solutions for its clients' needs. The company's Mailbox Values(R) branded shared mail program See e-mail program. is distributed nationally to over 61 million households weekly. ADVO also offers limited transportation services. It has 20 production facilities and 70 sales offices nationwide. ADVO's corporate headquarters are located at One Univac Lane, Windsor, CT 06095. CONTACT: ADVO, Inc. David M. Stigler, (860) 285-6120 or Lowell W. Robinson, (860) 285-6101 or The SPAR Group Bill Bartels, (914) 332-4100 |
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