Advantage Solutions is adding some flavor to its client roster.
The Irvine-based provider of sales, marketing, merchandising and digital technology services for packaged goods manufacturers and retailers was named sales agency of record for food company McCormick & Co. (NYSE: MKC).
The $16 billion-valued Baltimore-based firm makes a variety of spices and seasoning mixes, including products under its own name, as well as a variety of offerings under the Lawry’s brand name and others, including the East Coast’s iconic Old Bay seasoning mix.
Starting this week, Advantage will offer outsourced headquarter sales, analytics and retail merchandising services for McCormick at designated grocery stores and other retailers.
Chief Executive Tanya Domier said it looks forward to taking McCormick’s business “to new heights,” while McCormick Vice President of U.S. Consumer Products Sales Bill Simon said Advantage’s ability “to help clients win in all economic conditions has provided them with very solid growth.”
McCormick has annual sales of $5.4 billion and Advantage is estimated to have sales in the $2 billion range.
Advantage, which added former Kraft Foods executive Tom Corley to its board two weeks ago, reports having more than 90,000 full- and part-time employees across 120 offices in the U.S.
Its marketing division, Advantage Marketing Partners, ranked first on the Business Journal’s list of largest advertising agencies with an estimated $592 million in revenue.
Off the Trail
San Juan Capistrano-based trade and conference producer Emerald Expositions Events Inc. (NYSE: EEX) sold its publication Bicycle Retailer and Industry News, known as “BRAIN,” to Pocket Outdoor Media LLC this month. Financial terms of the deal were undisclosed.
As part of the transaction, BRAIN will no longer be published by the National Bicycle Dealers Association, which had exclusive publishing rights since 2003.
The sale comes several weeks after Emerald announced it would be cancelling its Interbike show for 2019 while laying off several Interbike employees, including show director Justin Gottlieb and sales director Andria Klinger.
Emerald Executive Vice President Darrell Denny said BRAIN is a strong fit for the Colorado-based publisher Pocket.
“They know and understand this market, they have direct experience with the title, and they are clearly media pros,” Denny said in a statement.
Pocket owns titles VeloNews, Triathlete, Women’s Running, Competitor Running and VeloPress. It also produces VeloSwap, a consumer bike expo.
Emerald has a market value of about $1 billion.
In 2017, about 93% of its revenue was generated from its trade show events that it runs, with the remainder “from other marketing services, including digital media and print publications that complement our event properties in the industry sectors we serve,” the company said in regulatory filings.
Individual publications are “aligned with a specific sector for which it organizes a trade show,” the company said.
For more on Emerald, see our CFO profile on page 10.
Parting Gift
Luxury hospitality brand Pendry Hotels is taking a different step in creating a lasting impression with its guests.
The sister company to Irvine-based Montage International partnered with Stance Socks in San Clemente last month to create a limited-edition men’s and women’s sock featuring Pendry’s pinwheel logo.
Pendry co-founder and creative director Michael Fuerstman said Stance’s motto, “Uncommon Thread,” is a reflection of its own mantra.
“One of the most important things is how important it is for us to be perpetually creating, to be doing things differently—and that leads to unforgettable experiences and offerings for our guests,” Fuerstman said in a statement.
Stance is known for collaborating with a plethora of tastemakers in various industries such as art, music and sports, but this is the first time the sock and apparel maker has linked arms with a hospitality brand.
The women’s sock is white and features a bright teal rose print while the men’s sock is in Pendry’s signature tartan print.
The socks retail for $18 per pair and is sold at Pendry San Diego, Sagamore Pendry Baltimore and on Pendry’s website.
