Allied Capital Completes Advantage Sales & Marketing Transaction.WASHINGTON -- Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has completed the purchase of a majority ownership stake in Advantage Sales & Marketing Inc. Allied Capital's investment in Advantage totals approximately $257 million in debt and equity securities, including closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, . Advantage is a leading sales and marketing agency providing outsourced sales, merchandising, and marketing services to the consumer packaged goods industry. Advantage employs over 12,000 associates and provides services nationwide to more than 1,200 manufacturers of branded food products and consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and . Advantage will continue to be managed by the existing executive team, led by Chief Executive Officer Sonny King. "Advantage promises to be a great investment for our portfolio. The company has a dominant position in their market and a strong business plan. To us, the investment also provides certain strategic benefits in that we will be able to draw on the deep experience of this management team with respect to consumer packaged goods as we evaluate future consumer products companies for our portfolio," said John Shulman, Managing Director of Allied Capital. Advantage Chief Executive Officer Sonny King said, "This is a very exciting time for Advantage. As we move forward in strategic and financial partnership with Allied Capital, we will be capitalized to expand and grow our business and continue to offer our clients unparalleled service." About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity investment capital to companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities and collateralized debt obligation Collateralized Debt Obligation (CDO) A general inclusive term which covers Collateralized Bond Obligations, Collateralized Loan Obligations, and Collateralized Mortgage Obligations, bonds and preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. . The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations Investor relations The process by which the corporation communicates with its investors. toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. For all media inquiries, please contact Allied Capital's Marketing Department at (202) 331-1112. About Advantage Sales & Marketing Advantage Sales & Marketing provides sales, marketing, and merchandising services to manufacturers in the consumer packaged goods industry. Advantage has operations throughout the United States and Canada. For more information, please visit the company's website at www.asmnet.com. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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