Advantage Solutions sells foodservice businesses to Prospect Hill Growth Partners for $100M, focusing on core retail businesses.

Advantage Solutions has sold its foodservice businesses to Prospect Hill Growth Partners for an estimated $100 million. The deal aims to focus the company on its core retail businesses and strengthen its financial position. Foodservice businesses will be combined with KeyImpact Sales & Systems, and Advantage will receive around $100 million, mainly in cash, with a 7.5% ongoing stake in the combined entity. The company also signed agreements with two third-party technology providers to enhance its business processes and IT systems.

January 31, 2024
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