SPAR Group Sells Interest in Australia and NMS Joint Ventures
January 10 2024 - 6:30AM
Business Wire
Move allows SPAR Group to concentrate on most
profitable businesses
SPAR Group, Inc. (NASDAQ: SGRP) (“SPAR”, “SPAR Group” or the
“Company”), a leading global provider of merchandising, marketing
and distribution services, reports the sale of its ownership
interest in SPARFacts, Australia and the National Merchandising
Services U.S. joint venture.
“As we continue our evaluation of strategic alternatives for the
business, we are simplifying our operations and focusing on
tangible value creation for our shareholders. These changes will
improve our consolidated financial performance and balance sheet,
while enabling leadership to be more targeted on growth and
expanding client opportunities,” said Mike Matacunas, President and
CEO, SPAR Group. He added, “Our core business in North America has
delivered double-digit growth for the last several quarters. This
change gives us more time and resources to drive business and
deliver positive results for our shareholders.”
About SPAR Group, Inc. SPAR Group is a leading global
merchandising and marketing services company, providing a broad
range of services to retailers, manufacturers, and distributors
around the world. With more than 50 years of experience, 25,000+
merchandising specialists around the world, an average of 200,000+
store visits a week and long-term relationships with some of the
world’s leading manufacturers and retail businesses, we provide
specialized capabilities across more than nine countries. Our
unique combination of scale, merchandising and marketing expertise,
combined with our unwavering commitment to excellence, separate us
from the competition. For more information, please visit the SPAR
Group’s website at http://www.sparinc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240110526671/en/
Media: Ronald Margulis RAM Communications 908-272-3930
ron@rampr.com
Investors: Sandy Martin Three Part Advisors 214-616-2207
smartin@threepa.com
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