The agreement aligns with WIS International's blueprint to streamline operations and sharpen focus on core capabilities within retail, healthcare, manufacturing, warehouse, and specialty sectors.
DALLAS, TX / ACCESSWIRE / May 22, 2024 / WIS International announced today that it has signed a definitive agreement to sell its CROSSMARK and Product Connections business units to Acosta Group. Acosta Group is a collective of retail, marketing and foodservice agencies that deliver end-to-end retail solutions for their customers. The sale will include a talented team of employees from CROSSMARK's Sales Agency and Retail Solutions businesses and Product Connections, a Marketing Solutions business. WIS International will retain its Inventory Verification services business as well as its Store Setup, Remodels, and Space Mapping services in the retail space. The transaction has been approved by both companies and remains subject to closing conditions and the receipt of regulatory approvals.
Citing transformations in the consumer marketplace over the last four years, WIS International established a blueprint for growth designed to help navigate a changing landscape. This new plan called for significant investments in technology and global expansion, including the recent introduction of FlexCount®, the industry's newest inventory counting platform. In addition to streamlining operations, the agreement will help drive additional investments in technology and employee training to position the company for continued growth. At the same time, it will also provide CROSSMARK and Product Connections continued success as part of Acosta Group and their collective of trusted agencies. Acosta Group intends to maintain the CROSSMARK and Product Connections brands within its agency portfolio.
"Based on Acosta Group's successful transformation under Brian Wynne and his leadership team, we are confident that they will be a strong steward of CROSSMARK, Product Connections, and our customers and people for the long term," said Jim Rose, CEO of WIS International. "We are excited about the opportunities that being a part of Acosta Group will create for our CROSSMARK and Product Connections associates, clients, and customers."
"The acquisition of CROSSMARK and Product Connections, organizations with outstanding people and complementary sales, retail, and marketing services and solutions, represents another milestone in our transformation journey," said Brian Wynne, CEO of Acosta Group. "Today's announcement reflects our commitment to continued investment in our people, technology, client and customer relationships, and business overall, creating enhanced value for our stakeholders."
The agreement with Acosta Group comes as WIS International begins its first phase of global expansion. With an existing presence in Mexico through a partnership with AccuratS Professional Services, the company recently expanded into Western Europe. Fairson, a complete retail inventory solutions provider headquartered in France, has formed a strategic partnership with WIS International to provide inventory services and technology to their market.
"The strength of our business has always been our people. We don't believe there is another company in our industry that can match their level of knowledge or commitment to customer service. As we begin our next phase, we'll leverage their strength and provide them with the tools to continue to provide our customers with unparalleled value," said Rose.
WIS International is committed to delivering incredible value to their customers through unmatched inventory control solutions, continued technology advancements, and superior staffing capabilities. The agreement with Acosta Group will allow them to continue to grow their business domestically and abroad while providing the highest level of service to their customers.
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Headquartered in Dallas, Texas, WIS International stands as a well-recognized leader in inventory data collection and retail services. Its leadership position has been earned through the support of over 20,000 dedicated and experienced associates. Working together, they assist the retail, healthcare, manufacturing, warehouse, and specialty sectors in reducing costs and increasing profits. With accuracy and efficiency as paramount benchmarks, WIS delivers retail services, proprietary inventory counting technology, real-time reporting, and powerful insights that aid customers in becoming more efficient and effective. For more information, please visit WISINTL.com.
Contact Information
Connie Nguyen
Vice President Marketing
cnguyen@wisintl.com
312-465-9288
SOURCE: WIS International
View the original press release on newswire.com.
