Advantage Solutions closes $185M sale of Jun Group to Verve Group

Advantage Solutions Inc.

Gross proceeds of $185M; $130M cash received at close on July 31, 2024.
Two deferred installments due 12 and 18 months post-close from Verve Group.
Majority of proceeds to be used for debt reduction and reinvestment in core business.
CEO Peacock says sale largely completes portfolio simplification, enabling focus on CPG and retail clients.
Company reaffirms long-term net leverage target below 3.5x.

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