Firm Advises on Sale of Majority Stake in Leading Retail Marketing Company

June 18, 2014

Willkie advises management of Advantage Sales & Marketing LLC (ASM) in Apax Partners sale of a majority stake in ASM to affiliates of private equity firms Leonard Green & Partners, L.P. and funds advised by CVC Capital Partners.

On June 16, it was announced that funds advised by Apax Partners have agreed to sell their majority ownership stake in Advantage Sales & Marketing LLC (ASM), a leading retail marketing outsourcing company, to affiliates of private equity firms Leonard Green & Partners, L.P. and funds advised by CVC Capital Partners. Willkie represented members of ASM’s senior management, who will continue to maintain a significant equity interest in the company.

The world’s leading consumer good suppliers and retailers rely on California-based ASM for outsourced sales and marketing services in the retail and foodservice industries. The company’s service portfolio includes headquarter sales and support, retail merchandising, and marketing services. With 38,000 associates in offices throughout North America, ASM is expected to achieve 2014 revenue of approximately $1.6 billion.

The deal was handled by partners Mark Cognetti, Michael Katz and Christopher Peters and associates Hania Masud and Helen Skinner.