Acosta Sales & Marketing Announces Equity Investment By Carlyle

(RTTNews) - Acosta Sales & Marketing, a full-service sales and marketing agency in the consumer goods industry, Monday said it has signed a definitive agreement for an equity investment by asset manager The Carlyle Group (CG).

Carlyle will purchase the full ownership stake of funds affiliated with Thomas H. Lee Partners, L.P. or THL. GIC, which is currently an investor in Acosta, will re-invest in the company.

Following the investment, Acosta senior management will continue to lead the company, and operations will continue to be the same. Acosta's management team will continue to have significant ownership of the company.

Financial terms of the transaction were not disclosed. The deal is expected to close in the third quarter.

Acosta first announced its partnership with THL in 2011. Since then, the company has grown to over 37,000 associates in 110 locations throughout the U.S. and Canada.

Goldman Sachs, J.P. Morgan Securities LLC and Morgan Stanley have agreed to provide debt financing for the transaction.