Advantage Solutions takes next step to simplify portfolio by selling digital marketing agency Adlucent to BarkleyOKRP

ST. LOUIS, May 01, 2024 (GLOBE NEWSWIRE) -- Advantage Solutions Inc. (NASDAQ: ADV), a leading provider of sales and marketing services to consumer goods manufacturers and retailers, today announced it has sold digital marketing agency Adlucent to BarkleyOKRP.

Adlucent, a performance media business Advantage acquired in 2016, will integrate into BarkleyOKRP, one of the largest independent full-service marketing and consulting firms in the U.S. BarkleyOKRP, which is backed by Chicago investment firm Keystone Capital, was formed in March upon the merging of agencies Barkley and OKRP.

Terms of the sale, which closed today, were not disclosed. Advantage plans to use the majority of proceeds to pay down debt and further strengthen its financial position. 

“While Adlucent has built strong partnerships and relationships with leading digital platforms, brands and retailers, we believe the agency will be in a better position to succeed within a digital-focused independent agency like BarkleyOKRP,” said Advantage Solutions CEO Dave Peacock. “This deal allows Advantage to further prioritize other growth efforts in a more focused way to ensure we continue to provide our clients with best-in-class services.”

Adlucent, which provides performance media activation across most major paid channels, including search, social, CTV and others, has built business relationships with top platforms in the space, including Amazon, Google, Microsoft and Meta. While it has direct relationships with large brands and retailers, Adlucent clients are largely distinct from Advantage’s core.

“We’re proud of the work Adlucent accomplished under Advantage, and we’re confident the Adlucent team will go on to even more success with BarkleyOKRP,” Peacock said.

The sale is Advantage’s latest business initiative focused on its broader plan to simplify its portfolio, allowing greater focus on the company’s core capabilities to build a stronger balance sheet and enable growth.

It follows a series of deals completed over the last six months, including the January sale of its collection of foodservice businesses, the December restructuring of its joint venture operating in Europe and the sale of Atlas Technology Group in October.

“While it’s never easy to part ways with valued and talented teammates, simplifying our business to sharpen our focus on serving clients and customers in our core business is imperative,” Peacock said.

Canaccord Genuity served as financial advisor and A&O Shearman served as legal advisor to Advantage Solutions on the transaction.

About Advantage Solutions

Advantage Solutions is a leading provider of outsourced sales, experiential and marketing solutions uniquely positioned at the intersection of brands and retailers. Our data- and technology-driven services — which include headquarter sales, retail merchandising, in-store and online sampling, digital commerce, omnichannel marketing, retail media and others — help brands and retailers of all sizes get products into the hands of consumers, wherever they shop. As a trusted partner and problem solver, we help our clients sell more while spending less. Advantage has offices throughout North America and strategic investments in select markets throughout Africa, Asia, Australia, Latin America and Europe through which the company serves the global needs of multinational, regional and local manufacturers. For more information, please visit advantagesolutions.net.