Inspiration meets innovation at Brandweek, the ultimate marketing experience. Join industry luminaries, rising talent and strategic experts in Phoenix, Arizona this September 23–26 to assess challenges, develop solutions and create new pathways for growth. Register early to save.
Sales and marketing agency Acosta, Inc. filed for Chapter 11 bankruptcy in Delaware on Dec. 1 in a deal with creditors that will convert $3 billion of debt into equity.
The Jacksonville-based company, which has worked with major brands like Campbell’s, Coca-Cola, Kellogg’s, Kraft Heinz and other leading consumer goods brands, argued that several factors—both company-specific and industry-wide—led to its stumble. Some of those reasons are a heavy debt load and an outdated business model. Others are changes in consumer behavior.
“Consumers have shifted away from traditional grocery retailers where Acosta has had a leadership position to discounters, convenience stores, online channels and organic-focused grocers, where Acosta has not historically focused,” Acosta said in a disclosure statement.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in