Advantage Sales & Marketing LLC in Irvine acquired StoreBoard Media LLC on undisclosed terms.
New York-based StoreBoard specializes in advertising on security equipment at retailer entrances.
Rick Sirvaitis, its president and cofounder, will lead the new business unit, which will continue to operate out of New York under the same name.
The deal comes three weeks after Advantage’s parent, London private equity firm Apax Partners LLP, was reported to be looking into a sale of the company in a deal that could approach $4 billion, according to Reuters.
Advantage, which has more than $1 billion in annual revenue, is a sales and marketing firm that handles retail merchandising and customer events, among other services, for companies in the grocery, drugstore and other industries. Clients include Wal-Mart Stores Inc.
Advantage acquired Texas-based food brokerage Longhorn Food Brokers LP in March following three other deals last year for companies in the perishables industry.
―Mediha DiMartino