Catalina Marketing Sells Direct Marketing Services Division to Valassis
Press release from the issuing company
ST. PETERSBURG, Fla., Sept. 20 -- Catalina Marketing Corporation and Valassis today jointly announced the sale of Catalina Marketing's direct mail division, Catalina Marketing Direct Marketing Services, to Valassis out of cash for an undisclosed amount. As part of the agreement, Valassis is pleased to assume and honor all existing Catalina Marketing Direct Marketing Services customer contracts and employees.
This transaction supports Catalina Marketing's previously announced strategy to focus on proprietary applications delivered at the point-of-sale and enhances Valassis' existing 1 to 1 direct mail business. Both Catalina Marketing Direct Marketing Services and Valassis' 1 to 1 direct mail business specialize in direct mail that is targeted based on the actual consumer purchase behavior and lifestyle changes of consumers.
"With the sale of our Direct Marketing Services division to Valassis, Catalina Marketing continues our focus on core business applications and positioning the company for long-term profitable growth," said Dick Buell, chief executive officer of Catalina Marketing. "We are pleased to have found a partner in this transaction that values the good work and talent of our Direct Marketing Services employees and will invest in their further success."
"Combining our expertise provides exceptional solutions and service capabilities for our customers, and an opportunity for accelerated growth in the area of targeted direct mail," said Alan F. Schultz, chairman, president and chief executive officer of Valassis. "We will work with our customers and explore opportunities to create greater value for them while maintaining the integrity and confidentiality of their frequent shopper data. Incorporating the best practices of each organization, including continued relationships with high-quality vendors, will create 'best in class' direct marketing solutions for our customers."
Gridley & Company LLC participated as Catalina Marketing's financial advisor throughout the execution of this deal.
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