Target: Advantage Sales & Marketing Inc
Buyers: Leonard Green & Partners LP, CVC Capital Partners Ltd
Sponsor: Apax Partners LLP
Leonard Green and CVC prevailed over other buyout firms in the auction of ASM, which is currently owned by private equity firm Apax Partners LLP, the people told sister news service Reuters, cautioning that the deal had not yet been finalized.
The sources asked not to be identified because the negotiations are confidential. Representatives of Apax, CVC, Leonard Green and ASM declined to comment.
Founded in 1987, Irvine, California-based ASM provides outsourced sales, marketing and merchandising services to manufacturers, suppliers and producers of consumer packaged goods in the United States.
Greg Roumeliotis is a correspondent for Reuters in New York.