DKSH has signed an agreement to acquire the Australian Field Marketer STP, strengthening its Field Marketing capabilities in Asia Pacific.
Zurich, Switzerland, October 5, 2021 – DKSH has signed an agreement to acquire STP, a Field Marketing provider based in Australia. Following the acquisition of Crossmark in Australia and New Zealand in 2020, this transaction further solidifies DKSH's Field Marketing expertise in the region and is line with the acquisition strategy of expanding in higher value-added businesses in Asia Pacific.
Field Marketing is a key service that DKSH has been providing in Asia through its joint venture DKSH Smollan since 2009. It includes higher value-added offerings that increase the demand for products right at the point of sale and provide clients with attractive growth opportunities. The individual services range from advisory, sales and retail execution, marketing solutions, technology to eCommerce. Since its initiation, the joint venture has become the leading Field Marketing provider with a regional coverage in eleven markets in Asia Pacific.
STP was founded in 2009 and is headquartered in Sydney, Australia. The company employs around 160 field marketers and is focused on marketing and merchandising services to the grocery channel. STP's business generates net sales of around CHF 5 million¹ at good profitability and return on capital. DKSH is acquiring 100% of this business funded by cash. The acquisition is immediately earnings accretive for DKSH. The management team of STP and its employees will join DKSH's Business Unit Consumer Goods. Closing of the transaction is expected in the fourth quarter of 2021 and is subject to certain conditions.
Terry Seremetis, Head Business Unit Consumer Goods, DKSH, commented: “DKSH Smollan has been enriching people's lives with its Field Marketing services in Asia Pacific for over a decade now. With the acquisition of STP we have firmly established our leading position in this growing business segment. We welcome all STP employees and look forward to a joint future.”
Andy Kirk, General Manager, DKSH Smollan Australia added: “We are pleased to expand our Field Marketing capabilities through the acquisition of STP Australia. With the combined expertise of DKSH Smollan and STP, we are adding even more value for our clients and customers in Asia Pacific.”
¹ Exchange rate Australian dollar / Swiss franc: 0.67
For further information, please contact:
DKSH Holding Ltd.
Head, Group Investor & Media Relations
Phone +41 44 386 7315
Manager, Group Media Relations
Phone +41 44 386 7217