Another Step Forward for Acosta Group
Over the past three years, we have focused on making significant investments in the transformation of our business as Acosta Group. We have continued to innovate, accelerating investments in our client and customer relationships and the growth and development of our associates. We have also made significant technology investments, led by the rollout of the SmartRetail platform to provide best-in-class in-store services and the work of our digital commerce team to help brands and retailers reach consumers everywhere they shop. Additionally, we have made significant investments to expand our agency capabilities in new and exciting ways. Through it all, we have worked closely with our clients to help them identify their challenges today and position them for growth tomorrow.
Today I’m excited to announce another milestone in our continuing transformation: the signing of our definitive agreement to acquire Crossmark and Product Connections from WIS International, adding complementary headquarters sales services and retail solutions and new sampling and demonstration capabilities to our company.
When this transaction closes after a customary regulatory review, Crossmark and Product Connections will join Acosta, ActionLink, CORE Foodservice, Mosaic, and Premium under the Acosta Group agency collective, a pivotal step in strengthening our position as a proven omnichannel growth engine for brands and retailers. It is important to note that WIS International will retain its inventory verification services business.
Further accelerating our transformation, this planned acquisition creates the opportunity to build on the combined strengths of Crossmark, Product Connections, and our Acosta Group collective of agencies across four key areas.
First, we will offer expanded services and solutions. Our purpose as an organization is to connect people with the brands they love across a wide array of retail categories, channels, and geographies. With this transaction, we will provide Crossmark and Product Connections’ clients access to Acosta Group’s deep digital commerce capabilities and a broader geographical footprint than ever before. Meanwhile, Acosta Group’s clients and customers will gain leading in-store sampling and demonstration capabilities and broader category-specific expertise.
Second, we will strengthen retail service delivery and execution across the board. Acosta Group’s field management technology is tailor-made to manage complex merchandising organizations. Crossmark and Product Connections’ clients will gain greater flexibility, speed, and reporting transparency in-store. This translates to game-changing, tech-enabled value for clients.
Third, this acquisition will enable us to better serve a diverse array of clients, from new to well-established brands. We will deliver the data insights, retailer relationships and unbeatable footprints to fuel emerging brands’ breakthroughs in today’s competitive landscape and will strengthen our support of larger brands seeking to work with Acosta Group to accelerate growth.
Importantly, this acquisition will also provide more opportunities for our people. At Acosta Group, we are passionate about career mobility, learning and development, and cross-agency collaboration. By adding Crossmark and Product Connections to our collective, we will not only better serve our clients’ specific needs, but also foster the growth of our dedicated associates around the world.
Looking ahead, we anticipate a bright future for our organization as we make continued investments in associates, partners, and business overall. We have successfully and seamlessly integrated other companies into our Acosta Group agency collective, reflecting our ability to bring together our industry’s best talent, capabilities, and technology for the clear benefit of our stakeholders. In addition, Acosta Group’s profitable growth over the past three years and strong balance sheet are fueling new investments in our people and technology. This exciting acquisition will further bolster both our capabilities and optimistic view of our business and the industry as we move through 2024 and beyond.
It is very important to note that during the regulatory review and closing process, our businesses will continue to operate and go to market as independent entities. Nevertheless, we recognize that our associates, clients, customers, and other stakeholders will have questions about what this transaction means. As we work through the closing process and integration planning of this transaction, we are committed to providing timely updates to all our stakeholders. Please do not hesitate to reach out to us if you have any pressing questions at BetterTogether@acosta.com.
Thank you to our clients, customers, and associates for your continued trust and partnership. As I said when we launched our new Acosta Group brand last year, our transformation as an organization unlocks a universe of entirely new growth opportunities for Acosta Group and our stakeholders in the years ahead.
Let’s keep moving forward — together.
Brian Wynne
CEO, Acosta Group
For more about the planned acquisition, view the news release.
