Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through Advantage Solutions's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
2 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
Daymon Worldwide was a leading provider of retailer-centric services, spanning private-label brand development and management, merchandising, and experiential marketing (including in-store product demonstration and sampling). Advantage completed the acquisition on December 18, 2017 for total consideration of about $671.1 million in issued equity, expanding beyond its core outsourced sales and marketing agency work into services sold directly to retailers. The purchase-price allocation assigned $331.1 million to identifiable intangibles (chiefly client relationships and trade names) and $460.3 million to goodwill. Certain Daymon business units operate outside North America and are subject to purchase arrangements with Advantage's partner Smollan and its joint venture. Approximately $671.1 million total consideration, satisfied entirely through the issuance of equity; the purchase-price allocation recorded $460.3 million of goodwill and $331.1 million of identifiable intangible assets (including $235 million of client relationships and $90 million of trade names). Advantage also assumed roughly $207 million of Daymon debt, which it later refinanced.
In December 2017, we completed the Daymon Acquisition, a leading provider of retailer-centric services, including private label development and management, merchandising and experiential marketing services.Advantage Solutions Inc. Form S-1 (filed November 2020) — Daymon Acquisition disclosure
Take 5 Media Group was a digital marketing and media business that Advantage acquired on April 1, 2018 for total consideration of about $81.6 million. Following a 2019 investigation that identified misconduct at the business, Advantage terminated all Take 5 operations, ceased using its trade names, and offered refunds to Take 5 clients. The company determined that Take 5's fiscal 2018 revenues had been improperly recognized and restated its previously issued 2018 financial statements. Advantage voluntarily disclosed the misconduct to the U.S. Attorney's Office and the FBI, pursued arbitration against Take 5's former owners, and in May 2020 recovered $7.7 million under its representation-and-warranty insurance policy. $81.6 million total consideration, including $4.6 million fair value of contingent consideration and $0.8 million of holdback liabilities.
On April 1, 2018, the Company acquired certain assets and assumed liabilities of Take 5 Media Group (“Take 5”) for total consideration of $81.6 million, including the fair value of contingent consideration of $4.6 million and holdback liabilities of $0.8 million.Advantage Solutions Inc. FY2020 Form 10-K — Take 5 Matter note