SPAR Group Inc, a global provider of merchandising, marketing and distribution services, said on Wednesday that it had sold its ownership interest in SPARFacts, Australia, and the National Merchandising Services US joint venture.
”As we continue our evaluation of strategic alternatives for the business, we are simplifying our operations and focusing on tangible value creation for our shareholders. These changes will improve our consolidated financial performance and balance sheet, while enabling leadership to be more targeted on growth and expanding client opportunities,” Mike Matacunas, President and Chief Executive Officer of SPAR Group Inc, said in a press release.
”Our core business in North America has delivered double-digit growth for the last several quarters. This change gives us more time and resources to drive business and deliver positive results for our shareholders,” the CEO added.
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