Acosta Sales and Marketing Secures New Investment from Berkshire Partners.Business Editors JACKSONVILLE, Fla.--(BUSINESS WIRE)--Jan. 27, 2003 Acosta Sales and Marketing Company, today announced that it has agreed to an equity investment by Berkshire Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Berkshire"), a Boston-based private equity investment firm. Under the transaction, which will close in February, Acosta shareholders will maintain a majority interest in the company. Gary Chartrand leads the organization as Acosta's Chief Executive Officer and will serve as Chairman of Acosta's Board of Directors. Terms of the transaction were not disclosed. The capital will help Acosta fund its strategic growth plan including the core North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sales and marketing business, promotional consumer marketing, logistics, and e-commerce software solutions. The company will also invest in additional leading edge technology in support of all of the company's business initiatives. "We are excited to work with Berkshire Partners, a leading private equity firm," said CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Chartrand. "The infusion of capital will allow Acosta to accelerate our growth strategy and bring us closer to our ultimate destination - Positively the Best Sales and Marketing Solution Globally." Acosta retained the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of investment banking firm Allen & Company to advise the company on this transaction. Founded in 1927, Acosta Sales and Marketing is a leading full-service sales and marketing agency in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. with more than 10,000 associates. The company provides outsourced sales, merchandising, marketing, and promotional services to more than 1,600 manufacturers in the consumer packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one (CPG CPG central pattern generators. ) industry and services over 120,000 retail outlets retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → . "Acosta continues to demonstrate leadership in the sales and agency field with exceptional clients and a top notch leadership team," said Brad Bloom, Managing Director at Berkshire Partners. "We consider ourselves extremely fortunate to be their partner and investor." About Acosta Sales and Marketing Company Acosta Sales and Marketing Company is a leading full-service sales and marketing agency in North America, providing outsourced sales, merchandising, marketing, and promotional services to manufacturers in the consumer packaged goods (CPG) industry. Headquartered in Jacksonville, Fla., Acosta has operations throughout the U.S. and Canada. For more information visit www.acosta.com. About Berkshire Partners LLC Berkshire Partners is an active investor in the private equity market managing approximately $3.5 billion of equity capital. Through its 18-year investment history, Berkshire has invested in over 70 companies with a primary focus on building solid, growth-oriented companies in conjunction with strong, equity-incented management teams. Berkshire invests in a number of industries including manufacturing, retailing, transportation, communications and business services. Additional information may be found at www.berkshirepartners.com. |
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