News

Warburg Pincus acquires majority stake in Crossmark

BY Alaric DeArment

PLANO, Texas — Consumer goods sales and marketing services company Crossmark will merge with an affiliate of private equity firm Warburg Pincus, Crossmark said Wednesday.

The company announced a majority investment by the New York-based firm, saying Crossmark’s management owners would maintain a significant equity position and continue to actively lead the company and that the investment will allow it to achieve its growth objectives faster than it could do on its own.’

"The Warburg Pincus partnership will provide growth capital that will allow Crossmark to make acquisitions, expand our service offerings and further enhance our capabilities to deliver even better service to our clients and customers," Crossmark CEO John Thompson said. "We are pleased to have a partner with a common vision and a track record of backing management with resources, expertise and relationships."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Walgreens to stay open on Christmas Eve, Christmas Day for last-minute shopping

BY Alaric DeArment

DEERFIELD, Ill. — Walgreens will keep stores open on Christmas Eve and Christmas Day to allow last-minute Christmas shopping, the retail pharmacy chain said Wednesday.

This includes 1,600 24-hour locations that will be open around the clock, while most Walgreens stores will stay open until midnight through Dec. 23, and nearly all stores will be open during regular hours on Christmas Eve, including pharmacies, which will be open from 9 a.m. until 5 p.m. On Christmas, non-24-hour stores will be open from 9 a.m. until 6 p.m., and pharmacies will be open at 24-hour stores.

"We understand that this is a busy and exciting time of year for our customers, and we are constantly working to provide them with a unique and comprehensive shopping experience for all of their holiday, health and daily living needs," Walgreens president for daily living products and solutions Joe Magnacca said. "With our more than 8,000 locations nationwide, Walgreens offers an extensive array of merchandise, making us the perfect one-stop shop for holiday gifts."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Dr Pepper Snapple Group to launch 10-calorie versions of its sodas

BY Rebecca Haughey

PLANO, Texas — As an extension of Dr Pepper Ten, the soft drink company will launch 10-calorie versions of five of its biggest soda brands, beginning January 2013. Sunkist, 7-Up, Canada Dry, RC Cola and A&W Root Beer are all getting makeovers.

Unlike other artificial sweeteners, the 10-calorie sweetener mix used by Dr Pepper Snapple Group contains enough high-fructose corn syrup to appeal to those consumers who have reservations about the taste of diet drinks, the company said.

Although Dr Pepper Ten was launched as an alternative for men who don’t like the image or taste of diet soda, the new 10-calorie sodas are being marketed to both men and women. Larry Young, CEO of Dr Pepper Snapple Group, said he is confident the new 10-calorie drinks can help soda consumers reduce their calorie intakes.

The drinks will hit shelves nationwide at select outlets in January, wih one of the company’s largest national ad campaigns to follow in March. The new ads will target both sexes and play off the theme of "Get Both."

Diet sodas already account for 20% of Dr Pepper’s soda sales, but Young said he predicts that number reaching 40% to 50% in coming years.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES