Advantex Marketing International Inc., a provider of coalition loyalty programs in Canada, plans to sell its sampling business for about $3 million.
The sale of the Samplex Group is the first step in a strategic plan to strengthen the company’s competitive position and provide capital for the business. The business was considered a non-core unit.
“This is the first of a series of initiatives to enhance Advantex’s leadership position in the loyalty marketing sector, and strengthen our loyalty marketing platforms for future growth and profitability,” said G. Randall Munger, CEO, in a statement.
The company reported third quarter sales and fees of $17.1 million compared to $15.6 million one year ago. The period ended March 31.
Just about a year ago, the company said it was considering options for the company including a partnership, sale or merger.
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