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JACKSONVILLE, Fla. -- Acosta Sales and Marketing Co. has signed a letter of intent to acquire Priority Food Brokers, a leading fresh foods sales and marketing agency serving the Baltimore/Washington D.C. market.
The acquisition strengthens Acosta's presence in the perimeter areas of the supermarket, noted Acosta chairman and c.e.o. Gary Chartrand. "For the last year Acosta has been working to build its fresh foods business, and this acquisition helps to further that strategy," he said.
"With the fresh category representing over one third of every $100 spent in the grocery store today, the perimeter is the fastest-growing area of the store," said Mark Clausen, Acosta's corporate v.p. of fresh foods. "Acosta's excellence in the areas of technology, retail effectiveness, retailer relationships, client partnerships, and category management are a natural fit for the fresh foods arena and allow Acosta to create the best fresh selling solution."
Priority Food Brokers partners Joe Barrie and Ted Kopp said Priority's strength complements Acosta's existing fresh foods business and will help create a best-in-class solution for CPG manufacturers and retailers. Priority associates will now be part of a growing fresh foods organization comprising strong technology assets, retail focus, and significant corporate commitment to the perimeter.
"Acosta's strategy is to be the premier sales and marketing agency across all channels," Barrie noted. "Our expertise in the meat, deli, and bakery areas, coupled with Acosta's leading-edge technology, retail effectiveness, and key client and retailer relationships, will help achieve that vision."
The acquisition is scheduled to be finalized on Oct. 31.
Headquartered in Jacksonville, Fla., Acosta has operations throughout the United States and Canada.