New York, NY
Neptune Retail Solutions (fka, News America Marketing, or NAM) is a leading provider of shopper marketing services across the US and Canada, serving many of the world’s most well-known brands. The company has two primary segments in the US: InStore (~51% of revenue) and AtHome (~37% of revenue), with the remainder of revenue split between digital marketing and Canada. The InStore segment provides marketing products and services to consumer packaged goods (CPG) companies through a network of thousands of retail locations, with products that include sign and display advertising and shopping cart advertising. The AtHome segment prints and distributes marketing and incentive products (e.g., coupon books) for CPG companies and retailers, mainly via newspapers and US mail. Neptune currently has a network of over 60,000 retail locations and a field work force of over 4,000 to execute in-store advertising. Its diverse customer base includes more than 500 CPG customers and over 100 retailer partners.
Charlesbank acquired Neptune Retail Solutions in May 2020 from News Corp. Because of the disruption from COVID-19 and secular headwinds in its AtHome segment, the transaction was structured carefully to preserve value, with over 70% of the purchase price in the form of a 5-year paid-in-kind (PIK) seller note. Based on our extensive experience with corporate carve-outs, we believe there is substantial opportunity to optimize Neptune’s operations as a standalone company. Charlesbank appointed Bill Redmond, a seasoned turnaround executive, to serve as CEO of Neptune and undertake an ambitious value creation plan.