JACKSONVILLE, Fla. -- Acosta Sales & Marketing Co. has signed a definitive agreement for an equity investment by AEA Investors, a New York City-based private equity investment firm.
With this transaction, Berkshire Partners' 2003 investment, which produced solid growth for privately-held Acosta, will be redeemed. Acosta's shareholder base of more than 200 active employees will retain a significant equity investment in the business. Terms of the transaction were not disclosed.
AEA has an established track record of investing [image-nocss] and backing management in respected companies with a history of positive earnings growth and strong growth potential, said Gary Chartrand, chairman and CEO of Acosta.
Following the transaction, Acosta's leadership will continue to manage the operations of the organization. Gary Chartrand will continue in his positions, Jack Laurendeau will continue as president and Robert Hill will continue as president of operations. There will be no changes to Acosta's operations as a result of this transaction, the company said.
Acosta was advised by Goldman Sachs for this transaction, which is expected to close in July 2006.
Jacksonville, Fla.,-based Acosta 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.
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