Archway acquires Resolve's supply chain management division

Marketing operations management company Archway has agreed to acquire the supply chain management division of Toronto-based Resolve, a competitor in outsourced sales chain operations and fulfillment.

The asset sale is scheduled to close on June 30, 2009 and will provide net proceeds to Resolve of approximately $22 million, which will be used to pay down existing company debt. The transaction will see Archway acquiring all of Resolve's SCM operation assets including client contracts, eight American locations and five Canadian locations, as well as the approximately 800 employees currently servicing the business for Resolve. The transaction does not include Resolve's Saint John, NB, supply chain facility, which is focused on Coupon and Rebate processing, and will continue as an important component of Resolve's operation.

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http://finance.yahoo.com/news/Resolve-Announces-Sale-of-ccn-15356143.html?.v=4