SPAR Group sells stake in SPAR China, focuses on core business growth

  • Stock Market News
SPAR Group sells stake in SPAR China, focuses on core business growth
Credit: © Reuters.

AUBURN HILLS, Mich. - SPAR Group (JO: SPPJ ), Inc. ( NASDAQ : SGRP), a global merchandising and marketing services provider, has announced the sale of its ownership interest in its joint venture SPAR China, based in Shanghai. The financial details of the transaction were not disclosed.

The move comes as part of the company's strategy to streamline its operations and financial structure. According to Mike Matacunas, President and CEO of SPAR Group, the decision aligns with the company's effort to concentrate on its primary business segments, which have shown significant growth in recent years.

"Our core-owned U.S. business has experienced 50%+ growth and our Canada business has grown by more than 90% in this time period," Matacunas stated. "We are pleased with these results and will build upon this momentum. This is a good time to invest in SPAR Group."

SPAR Group has been witnessing strong demand and expansion within its core business operations, suggesting a strategic pivot towards markets where it holds full ownership and control. The company's U.S. and Canadian divisions, in particular, have seen remarkable increases in their business volume, indicating a positive trajectory for the organization's future endeavors.

The company provides a range of merchandising, marketing, and distribution services designed to enhance brand experiences and transform retail spaces. By offering a mix of scale and flexibility, SPAR Group aims to differentiate itself from competitors and deliver impactful results for its clients.

This announcement is based on a press release statement from SPAR Group, Inc. and reflects the company's current focus on optimizing its business portfolio and reinforcing its presence in key markets.

As SPAR Group continues to adapt its business strategy, investors and industry observers will be watching to see how these changes impact the company's performance and positioning in the competitive global marketplace.

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