Advantage Solutions today announced the sale of digital marketing agency Adlucent to BarkleyOKRP. This is the latest step in the company's efforts to simplify its portfolio and focus on its core businesses.
Terms of the sale, which closed today, were not disclosed. Advantage said it plans to use most of the proceeds to repay debt and further strengthen its financial position.
Dave Peacock, Advantage Solutions CEO, said: “Adlucent has built strong partnerships and relationships with major digital platforms, brands and retailers, but we believe that success within a digital-centric independent agency like BarkleyOKRP is a key enabler for Adlucent. I believe we are in a favorable position.” release. “This agreement will enable Advantage to further prioritize other growth efforts in a more focused manner and continue to provide best-in-class service to our clients.”
Adlucent provides performance media activation across most major paid channels, including search, social, and CTV, and has business relationships with top platforms such as Amazon, Google, Microsoft, and Meta. Although Adlucent has direct relationships with major brands and retailers, Adlucent's customers are very different from his Advantage core.
“We are proud of the work Adlucent has accomplished under Advantage and are confident the Adlucent team will have even more success with BarkleyOKRP,” Peacock said.
As part of the transaction, Adlucent, an Austin, Texas-based performance media business acquired in 2016, will be integrated into BarkleyOKRP, one of the largest independent full-service marketing and consulting firms in the United States. Approximately 180 Adlucent employees will transfer to the BarkleyOKRP company. Responsible for broader media operations, his CEO at Adlucent, Ashwani Dhar, will become his chief performance officer at BarkleyOKRP.
Jeff King, CEO of BarkleyOKRP, said in a release that the acquisition of Adlucent will “expand our integrated media capabilities, expand our technology, grow our media team to more than 250 professionals, and improve customer engagement and It supports our strategic vision to drive ROI.”
The sale is the latest in Advantage's business strategy focused on a broader plan to simplify its portfolio, build a stronger balance sheet and place greater emphasis on the company's core competencies that enable growth. becomes possible.
This joins a series of transactions completed in the past six months, including the sale of a food service business in January, the reorganization of a joint venture operating in Europe in December, and the sale of Atlas Technology Group in October. It continues.
“While it is never easy to part ways with valuable and talented teammates, it is imperative that we simplify our business and strengthen our core focus on serving our clients and customers,” Peacock said. .
