Valassis will acquire mass mailer Advo for about $1.3 billion.
With the acquisition, the company will have 7,900 employees with operations in nine countries. It will stay headquartered in Livonia, MI. and will maintain a substantial presence in Windsor, CT.
Alan F. Schultz will remain chairman, president and CEO of Valassis and Robert L. Recchia will remain chief financial officer. Outgoing Advo CEO S. Scott Harding will serve as a consultant. The Valassis board of directors will remain intact.
The company, best known for freestanding inserts, said it would now serve 20,000 advertisers worldwide, including 94 of the top 100 advertisers in the U.S.
This will include Advo
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