---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-021055"
form_type: "8-K"
ticker: "ADV"
cik: "0001776661"
company_name: "Advantage Solutions Inc."
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T13:53:24.885857+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Advantage Solutions sells foodservice business collection for $100M to form Acxion Foodservice

## Summary
- Total proceeds of ~$100M, predominantly cash, plus a 7.5% stake in the combined entity Acxion Foodservice.
- Transaction closed Jan 31, 2024; foodservice units (Waypoint, Marlin, Primeline, etc.) combine with KeyImpact.
- Proceeds to be used primarily to pay down debt, strengthening the balance sheet and focusing on core retail.
- Follows prior divestitures: Atlas Technology sold Oct 2023 and Advantage Smollan stake reduced to 49.6% in Dec 2023.
- Advantage retains a seat on Acxion's board and will maintain a close working relationship.

## SEC filing metadata
- accession: 0001193125-24-021055
- form_type: 8-K
- ticker: ADV
- cik: 0001776661
- company_name: Advantage Solutions Inc.
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1776661/000119312524021055/0001193125-24-021055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1776661/000119312524021055/d781235d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-021055
- JSON: https://secwatch.observer/filing/0001193125-24-021055.json
- Plain text: https://secwatch.observer/filing/0001193125-24-021055.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.