Supplier News Breaks
Crossmark acquires PromoWorks assets
December 2nd, 2013
BENTONVILLE, Ark. – Crossmark, a leading sales and marketing services firm, has acquired the assets of PromoWorks, a provider of insights-driven shopper marketing solutions. Terms of the transaction were not disclosed.
The combination will make Crossmark the preferred product-sampling and demonstration agency for 10 of the top 20 food retailers in North America, as well the exclusive event-marketing planning agency for many top brand manufacturers. "Through intense focus and execution, we have become the North American leader in in-store marketing for brands," said Joe Crafton, chief executive officer of Crossmark. "Not only does PromoWorks add to Crossmark’s scale and coverage, but we also are excited about the company’s ability to create integrated and innovative omni-channel campagns."
The PromoWorks deal marks the second recent acquisition by Crossmark, which acquired Marketing Werks, an out-of-store consumer engagement firm, in August. "The PromoWorks and Marketing Werks transactions create solutions for our clients that are unrivaled," added Crafton. "As traditional marketing continues to lose relevance in many categories, we are experiencing an explosion in utilizing people as media to engage with consumers on the go."
In other news, Crossmark has appointed Mike Graen as vice president and managing director of Crossmark’s Center for Collaboration in Bentonville, Ark. Graen recently served as director of innovations at Walmart after working at Procter & Gamble Co. The Center for Collaboration is currently under construction and is scheduled to open in Spring 2014.
"The center will be a place where Walmart and its suppliers plan the future," said Graen. "I expect it will be the catalyst for unbelievable innovations in the shopping experience."
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