SPAR Group Sells Interest in China Joint Venture
February 27 2024 - 10:30AM
SPAR Group, Inc. (NASDAQ: SGRP) (“SPAR”, “SPAR Group” or the
“Company”), a leading global provider of merchandising, marketing
and distribution services, reports the sale of its ownership
interest in SPAR China, the joint venture based in Shanghai. Terms
were not released.
“As we continue to evaluate strategic alternatives for the
business, we are simplifying our operating and financial structure.
At the same time, we are focused on building our core business that
has experienced strong demand and growth over the last three
years,” said Mike Matacunas, President and CEO, SPAR Group.
“Our core-owned U.S. business has experienced 50%+ growth and
our Canada business has grown by more than 90% in this time period.
We are pleased with these results and will build upon this
momentum. This is a good time to invest in SPAR Group.”
About SPAR Group, Inc.SPAR Group is an
innovative services company offering comprehensive merchandising,
marketing and distribution solutions to retailers and brands. We
provide the resources and analytics that improve brand experiences
and transform retail spaces. We offer a unique combination of scale
and flexibility with a passion for client results that separates us
from the competition. For more information, please visit the SPAR
Group’s website at http://www.sparinc.com.
Media Contact:Ronald MargulisRAM
Communications908-272-3930ron@rampr.com
Investor Relations Contact:Three Part Advisors,
LLCSandy Martin Tel: 214-616-2207
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