Thursday, June 20, 2024

Advantage Solutions and L.A. Libations announce intent to form joint venture

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  • Advantage Solutions (NASDAQ:ADV) on Tuesday said that it has signed a letter of intent to form a joint venture, which is intended to be called Relentless Advantage.
  • Under the terms of the proposed partnership, L.A. Libations’ retail solutions subsidiary, Relentless Trade Solutions, would combine its West Coast retail coverage with Advantage’s (ADV) nationwide retail business, which covers retailers of all sizes across the U.S., to expand services for emerging brands across the country.
  • Under the joint venture, Advantage (ADV) – which works with more than 3,500 CPG companies across 250,000 North American retail outlets – will enable L.A. Libations-affiliated brands to expand nationally and gain distribution and shelf space in major retailers outside Relentless’ existing service footprint.
  • The new organization would service ascendant brands such as natural soda brand Poppi; Michelle Obama’s PLEZi Nutrition, a line of kid-focused beverages with lower sugar content; Nixie Sparkling Water; and Abbot’s, a line of plant-based protein products.
  • Source: Press Release

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