WHITE PLAINS, N.Y. -- SPAR Group Inc., a leading supplier of retail merchandising and other marketing services throughout the United States and internationally, said that it is expanding its domestic business with the acquisition of general merchandising and certain in-store audit services from Market Force Information, a leading customer intelligence solution provider.
Adding these two New York City-based merchandising businesses will allow the company to expand its existing client base while providing an introduction into a new line of in-store audit services.
It said that it expects the acquired businesses to generate incremental annualized revenue in the range of $7 million to $8 million.
"SPAR is pleased to announce the addition of these two businesses as they allow us to expand our core management team by adding an excellent group of seasoned professionals while increasing our merchandising services. Most importantly, this addition provides the company with a strong introduction into another component of the merchandising business anchored around in-store audit services and critical merchandising analytics," said Gary Raymond, CEO of SPAR Group.
"In addition to providing us with increased revenue and profitability, we believe this immediately accretive acquisition will allow us to expand our client base and complement our breadth of services," he added. "The acquired businesses will expand our clientele in the mass merchandiser, hardware, grocery, drug, toy and other classes of trade. We believe this acquisition will position us for strong revenue growth and profitability within our domestic division and the company overall."
The acquisition will enable Market Force to concentrate on its core customer intelligence practice, providing customer data and insight to retailers, studios and manufacturers to help them improve customer experience and their financial performance.
Market Force is a leading customer intelligence solutions company for multi-location businesses, including major retailers, restaurants, grocery and convenience stores, financial institutions, entertainment studios and consumer packaged goods (CPG) companies.
White Plains, N.Y.-based SPAR Group is a diversified merchandising and marketing services company providing a variety of services to help companies improve sales, operating efficiency and profits at retail locations. It provides merchandising and other marketing services to manufacturers, distributors and retailers primarily in mass merchandiser, office supply, grocery, drug, independent, convenience, electronics, toy and specialty stores, as well as providing furniture and other product assembly services, in-store events, technology services and marketing research.
Product services include restocking and adding new products, removing spoiled or outdated products, resetting categories "on the shelf" in accordance with client or store schematics, confirming and replacing shelf tags, setting new sale or promotional product displays and advertising, replenishing kiosks, providing in-store event staffing and providing assembly services in stores, homes and offices and now--through this acquisition--in-store audit services. Other merchandising services include whole store or departmental product sets or resets (including new store openings), new product launches, in-store demonstrations, special seasonal or promotional merchandising, focused product support and product recalls.
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