Spar Group venture named as Spar Brasil Serviços de Merchandising e Tecnologia S.A..
Spar Group Inc., a leading global supplier of merchandising and other retail services, has acquired New Momentum and New Momentum Services, which were part of The Interpublic Group ("IPG") In-Store companies of Brazil, for an undisclosed amount. The acquisition has done through creating a joint venture corporation called Spar Brasil Serviços de Merchandising e Tecnologia S.A., and together with the acquired New Momentum In-Store companies collectively will be called Spar Brazil.
Spar Brazil will be headquartered in Sao Paulo with a second office in Rio de Janeiro and will provide merchandising, in-store promotion and other marketing and retail services throughout Brazil's 26 states. The acquired New Momentum In-Store companies will be consolidated subsidiaries of Spar and are expected to add more than 20% to Spar's annual revenue.
This new acquisition adds South America to Spar's global coverage, which spans six continents with operations in the United States, Australia, Brazil, Canada, China, India, Japan, Mexico, South Africa and Turkey.
Jonathan Dagues, the former Managing Director of the New Momentum companies and now CEO and President of each of the Spar Brazil companies said that, Spar's global experience and sector intelligence, combined with its superior technology, will give new establishment a decided edge in the market as Brazilian in-store merchandising and marketing efforts continue to develop.
Company said that, with the acquisition, it continues to add new Fortune 500 brands to its existing client roster as these large, multinational companies value Spar's global footprint and superior technology. SPAR Brazil's clients will benefit greatly from the Spartrac® Global Retail Service Operations System, which provides the field management, reporting, tracking and productivity enhancements global clients in Brazil have been asking for.
Steve Adolph, International President of Spar, commented that, the new joint venture opportunity in Brazil is its first entry into the important South American market and it will serve as a foundation for further expansion throughout the region. PWKD26092016
Editors Note Spar Group USA should not be confused with convenience retailer Spar Internatinal headquartered in Amsterdam.
