SPAR Group (NASDAQ: SGRP) recently moved to expand its domestic business through the acquisition of a 51% interest in Resource Plus, Inc., a provider of professional fixture installation and product merchandising services; a 51% interest in Mobex of North Florida, Inc., a retail fixture mobilization system manufacturer; and a 51% interest in Leasex, LLC, a company formed to lease Mobex’s proprietary equipment. Resource Plus CEO Richard Justus will continue to run the operations of the newly acquired assets, which will function as a subsidiary of SPAR Group following the close of the acquisition. The news, released last Thursday, sent shares of SPAR Group soaring to a new 14-year high on record volume of 2.3 million. “Richard and the Resource Plus team have exceptional expertise and operational knowledge which will not only bring value to SPAR domestically, but also to SPAR’s international operations,” SPAR Group CEO Chris Olivier stated in the news release. Shares of SPAR are up more than 10% today at $1.66 on volume of nearly 560,000.
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About SPAR Group
SPAR Group, Inc. is a diversified international merchandising and marketing services company and provides a broad array of services worldwide to help companies improve their sales, operating efficiency and profits at retail locations. The company provides merchandising and other marketing services to manufacturers, distributors and retailers worldwide, and coordinates the operations through the use of multi-lingual proprietary technology which drives the logistics, communication and reporting for global operations and customers. SPAR works primarily in mass merchandiser, office supply, grocery, drug, dollar, independent, convenience, toy, home improvement and electronics stores, as well as providing furniture and other product assembly services, audit services, in-store events, technology services and marketing research. The company has supplied these product services in the United States since certain of its predecessors were formed in 1979 and internationally since the company acquired its first international subsidiary in Japan in May 2001. Product services include restocking and adding new products, removing spoiled or outdated products, resetting categories “on the shelf” in accordance with client or store schematics, confirming and replacing shelf tags, setting new sale or promotional product displays and advertising, replenishing kiosks, demonstrating or promoting a product, providing in-store event staffing services and providing assembly services in stores, homes and offices. Audit services include price audits, point of sale audits, out of stock audits, intercept surveys and planogram audits. Other merchandising services include whole store or departmental product sets or resets (including new store openings), new product launches, in-store demonstrations, special seasonal or promotional merchandising, focused product support and product recalls. The company currently does business in 10 countries that encompass approximately 50% of the total world population through its operations in the United States, Australia, Brazil, Canada, China, India, Japan, Mexico, South Africa and Turkey. For more information, visit the company’s website at www.SparInc.com.
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