The parent of Irvine-based Advantage Sales & Marketing was looking into a sale of the company in a deal that could range from $3 billion to $4 billion, according to a Reuters report.
London private equity firm Apax Partners LLP, which paid $1.8 billion for a majority stake in Advantage in 2010, is looking into an auction of the company, according to the report, which cited a number of anonymous sources.
A spokesperson for Advantage didn’t respond.
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 and drugstore industries, as well as other sectors. Clients include Wal-Mart Stores Inc. and Kroger Co.
Advantage has been on a buying spree lately, with Texas-based food brokerage Longhorn Food Brokers LP the most recent addition to its fold.
―Kari Hamanaka
