Advantage Solutions Inc. is an American provider of outsourced sales and marketing services to consumer goods manufacturers and retailers.[1][2] It was founded in 1987 and has expanded through organic growth and acquisitions. In October 2020, it went public via a merger with SPAC Conyers Park II Acquisition Corp.[3][4][5][6][7]
History
Founding and Expansion
Advantage Solutions was founded in 1987 by Sonny King in Irvine, California, under the name Advantage Sales & Marketing, focusing on outsourced sales for consumer packaged goods manufacturers. Over the following decades, the company expanded through a mix of organic growth and strategic acquisitions, including more than 50 M&A transactions since 2014.[1][8][9]
On November 14, 2017, Advantage Solutions agreed to acquire Daymon Worldwide, a Stamford-based private-label brand development and retail services firm, from Bain Capital and Yonghui Superstores.[12]The deal combined two private equity-backed providers and created a broader global consumer goods services business spanning more than 45 countries.[13][14]
In October 2020, Advantage Solutions became a publicly traded company through a merger with the special-purpose acquisition company (SPAC) Conyers Park II Acquisition Corp.,[15] in a transaction that valued the business at approximately $5.2 billion.[7][16][17]It started trading on the Nasdaq Global Select Market under the ticker “ADV” starting October 29, 2020.[18]
As of 2023, Advantage Solutions was listed on the Fortune 1000 and reported having over 70,000 employees worldwide.[19][20][21]
In early 2024, Advantage Solutions relocated its corporate headquarters from Irvine, California, to Clayton, Missouri.[2][25][26]
In June 2024, Advantage Solutions announced the sale of digital advertising platform Jun Group to Sweden-based Verve Group SE for $185 million.[27] Transaction completed in July 2024; company received approximately $130 million upfront and pledged to use proceeds to reduce debt.[27]
