Advantage Solutions Inc. (ADV) Business

Item 1. Business

Our Company

We provide outsourced sales, marketing, merchandising, sampling, and retailer support services to consumer packaged goods (“CPG”) manufacturers and retailers primarily across North America. Our services are designed to support distribution, retail execution, shopper engagement, and private brand development across both physical and digital commerce environments. We serve more than 4,000 clients across grocery, mass, club, retail pharmacy, convenience, and other channels in over 100,000 retail locations.

We operate through three reportable segments: Branded Services, Experiential Services, and Retailer Services. Our revenue model consists of commissions, fee for service arrangements, and cost-plus structures depending on the nature of the engagement. Expenses related to our employees, which we refer to as teammates, are a major component of the costs associated with our service delivery model, and financial performance is influenced by program volumes, service mix, and workforce utilization.

During the most recent period, clients adjusted spending across several categories while continuing to support consumer engagement and in‑store execution. We continued to simplify our operations, including the divestiture of non-core businesses and advancement of our enterprise systems modernization, to align our capabilities with market needs and improve operating efficiency.

Branded Services

Branded Services provides sales, merchandising, and omni‑commerce marketing support to branded CPG manufacturers. We deliver these services under commission, fee‑for‑service, or cost‑plus arrangements.

Brokerage Services (Headquarter Sales)

We represent manufacturer-clients in their commercial relationships with retailers, supporting business development, sales planning, distribution optimization, pricing and promotional strategies, and category recommendations. Our teams leverage retailer and consumer data, category and space management tools, and post‑event analytics to assist clients in expanding distribution and improving product placement.

Branded Merchandising

Our field teams execute in‑store merchandising activities including shelf maintenance, promotional display installation, inventory checks, and distribution validation. We offer dedicated, syndicated, and hybrid coverage models. Merchandising applications, routing tools, and daily point‑of‑sale data help prioritize store visits and address out‑of‑stock and other execution issues. We also offer logistics and supply chain support focused on product flow and inventory management.

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Omni-commerce Marketing Services

We develop and execute shopper‑centric marketing programs across in‑store, digital shelf, e‑commerce platforms, social and influencer channels, and custom content programs. We also provide national consumer promotion services designed to drive product trial and awareness.

Experiential Services

Experiential Services provides in‑store and digital sampling programs, demonstrations, and experiential events for manufacturers and retailers. These programs are designed to drive trial, conversion, and sustained consumer engagement. Revenues are generally earned on a fee‑for‑service or cost‑plus basis. We execute large‑scale sampling programs and design and manage consumer events ranging from brand activations to premium gatherings.

Retailer Services

Retailer Services provides solutions that support retailers in the development of in‑store merchandising execution, private brands and retail‑media and marketing initiatives. Revenues are recognized through commissions, fee‑for‑service, or cost‑plus arrangements.

Retailer Merchandising

We deliver reset services, category updates, space management support, audits, data collection, and in‑store execution. These services support retailer objectives related to inventory accuracy, product placement, and store presentation, allowing retailer staff to focus on customer service.

Advisory Services

Our private brand agency supports retailers in private brand strategy, product development, sourcing, packaging, design, and program management. Analytical teams assist with assortment planning, supplier partnerships, and ongoing brand management.

Agency Services

We operate print and digital circular programs, manage merchandising and display platforms, and execute retail media and targeted advertising programs using proprietary and third‑party data to reach defined consumer audiences across digital channels.

Competition

We compete with national and regional providers of outsourced sales, merchandising, and marketing services, as well as in‑house teams within CPG manufacturers and retailers. Competitive factors include service quality, data and analytics capabilities, technology enablement, geographic coverage, and cost‑effectiveness.

Strategy

Our strategic priorities include strengthening our core service offerings, improving operational efficiency, enhancing technology and data capabilities that support decision‑making, and aligning our cost structure with the current scale of the business. We continue to evaluate opportunities for portfolio simplification and targeted investment in capabilities that support omni‑commerce execution.

Government Regulation

In connection with the services we provide, we must comply with various laws and regulations from federal, state, local and foreign regulatory agencies. We believe that we are in material compliance with regulatory requirements applicable to our business. These regulatory requirements include, without limitation:

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federal, state, local and foreign laws and regulations involving minimum wage, overtime, exempt or non-exempt status, health care, sick leave, lunch and rest breaks and other similar wage, benefits and hour requirements and other similar laws;

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Title VII of the Civil Rights Act and the Americans with Disabilities Act and regulations of the U.S. Department of Labor, the Occupational Safety & Health Administration, the U.S. Equal Employment Opportunity Commission and the equivalent state agencies and other similar laws;

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food safety matters (e.g., federal, state and local certification and training and inspection and enforcement of standards for our teammates, facilities, equipment and the products we promote), alcohol beverage regulations, food and permitting matters, custom and import matters with respect to products shipped across international borders;

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federal and foreign laws and regulations regarding tariffs, taxes, embargoes, retaliations and other governmental responses;

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the U.S. Foreign Corrupt Practices Act, the UK Bribery Act and other similar anti-bribery and anti-kickback laws and regulations that generally prohibit companies and their intermediaries from making improper payments for the purpose of obtaining or retaining business; and

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federal, state and foreign anti-corruption, data protection, privacy, consumer protection, content regulation and other laws and regulations.

Human Capital Management

Our teammates represent one of the most important assets to our business. As of December 31, 2025, we employed approximately 73,000 teammates. Approximately 16,000 are full-time and approximately 57,000 are part-time. Approximately 57,000 of our teammates are in the United States. As of December 31, 2025, none of our teammates in the United States were represented by a trade union or were the subject of a collective bargaining agreement.

We are committed to promoting a performance culture with a high degree of teammate engagement and an environment in which our teammates feel welcomed and included. Our talent and leadership development programs are intended to foster our teammates’ ambitions, help develop their careers and support their changing needs and the needs of the business. We believe that our teammates’ contributions and active engagement with their fellow teammates are important to the strength of our operational and financial performance. Furthermore, as our company transforms within an evolving industry, we are focused on improving turnover, retention, development, and the overall teammate experience.

We historically experience meaningful turnover among our entry-level part-time teammates each year. We experience less turnover among our mid-level and senior-level teammates. Given the nature of our services, our recruiting and retention practices are important to meeting the needs and expectations of our clients. As such, we set clear objectives with our teammates, analyze performance and reward and recognize teammates who outperform. At the same time, we remain committed to providing opportunities for our teammates to grow and develop their careers with us and encourage internal movement including promotions to leadership roles within our business units for high-performing or motivated teammates. No matter their career goals, we are committed to developing, rewarding and retaining high-performing teammates as we transform our business in response to the ever-changing needs of our clients and industry.

We strive to cultivate respect, trust and transparency, and we embrace a variety of thought and of people. We are committed to creating a workplace where our teammates are seen, heard, respected, protected, valued, feel a sense of belonging and have an opportunity to pursue their career goals and dreams. We believe that our commitment to belonging and impact are important components of our commitment to putting people first and our long-term operational and financial success. We believe that a workforce that is reflective of our client base will position us to better understand clients’ wants and needs, which we believe drives our ability to deliver superior customer value and successfully innovate. Different experiences and perspectives amongst our teammates allow them to evaluate business challenges through multiple approaches and help guide us in a thoughtful way. Our belonging and impact efforts include enterprise-wide training, teammate resource groups and community volunteer opportunities.

Available Information

We maintain a link to investor relations information on our website, https://youradv.com, where we make available, free of charge, SEC filings, including our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. All SEC filings are also available at the SEC’s website at www.sec.gov. our website and the information contained on or connected to our website are not incorporated by reference herein, and our web address is included as an inactive textual reference only.