Advantage Solutions Reports Sale Of Its Collection Of Foodservice Businesses, Most Notably Waypoint, To Prospect Hill Growth Partners, L.P.
Portfolio Pulse from Benzinga Newsdesk
Advantage Solutions has sold its foodservice businesses, including Waypoint, to Prospect Hill Growth Partners, L.P. The deal includes a combination of cash and a 7.5% stake in the merged entity with KeyImpact Sales & Systems Inc., totaling approximately $100 million in proceeds for Advantage.
January 31, 2024 | 10:01 pm
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Advantage Solutions has completed the sale of its foodservice businesses for approximately $100 million and retains a 7.5% interest in the new combined entity.
The sale of the foodservice businesses is likely to be viewed positively by investors as it provides a significant cash inflow and allows Advantage Solutions to streamline its operations while maintaining a stake in the business. This could potentially lead to a short-term increase in ADV's stock price.
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