As part of the agreement, the current equity investors in Daymon will become part owners of the holding company for Advantage and appoint members to its board of directors. Daymon will continue to operate as a separate legal entity headquartered in Stamford, Conn.
Advantage describes itself as a leading North American provider of business solutions to consumer goods manufacturers and retailers, with a suite of technology-enabled services that includes headquarter sales representation, business intelligence, merchandising, and marketing solutions. Daymon says it is a leading solutions provider to retailers and brands, at the forefront of the private brand industry since 1970, and offering a global service portfolio that includes strategy and insights, sourcing, packaging and branding design, in-store retail execution, and consumer experience marketing.
“Today’s evolving, omni-channel landscape requires new, innovative solutions and together, Advantage and Daymon will provide the furthest reach, deepest insights, and broadest services — a collaborative effort that far exceeds what the organizations could achieve individually,” said Tanya Domier, chief executive officer at Advantage. “Combining Advantage’s strengths in brand-centric sales, marketing, and technology solutions with Daymon’s strengths in retailer-centric solutions creates the strongest provider of manufacturer and retail services in the industry. The separation between brand-centric and retailer-centric businesses will enable each to focus on its core competencies while leveraging back-office scale.”
The combined companies will operate in over 45 countries including multiple joint ventures. It will constitute the only global solutions company with both brand-centric and retailer-centric services, according to the firms.
“Associates at Advantage and Daymon are aligned in their unstoppable drive to ensure that the return on investment for our business partners is greater than ever and that cash registers ring louder and more often,” said Jim Holbrook, chief executive officer of Daymon. “We all look forward to serving clients and customers with the best possible solutions to help drive their businesses — that is our commitment.”
Terms of the global transaction were not disclosed.