Carlyle to buy Acosta from Thomas H. Lee Partners

Carlyle will pay approximately $4.8 billion in one of the biggest transactions of the year

Washington-based Carlyle Group will acquire in-store marketer Acosta from Thomas H. Lee Partners, sources familiar with the matter place the transaction value at approximately $4.8 billion.

The investment will come from Carlyle Partners VI, which closed on $13 billion in 2013, according to Private Equity International’s research and analytics division.

Carlyle declined to comment on the transaction which is expected to close in the third quarter of this year.

Carlyle is due to release earnings on Wednesday, and has announced a number of acquisitions this quarter, as well as the closing of the Carlyle Cardinal Ireland Fund (CCI), on €292million.

Florida-based Acosta manages consumer goods in-store marketing and new product launches. Thomas H. Lee Partners acquired the company from AEA Investors in 2011, for more than $2 billion. The deal follows the sale of Acosta rival Advantage Sales & Marketing to CVC Capital Partners and Leonard Green & Partners for more than $4 billion in June, PEI reported at the time.

Following the investment, Acosta senior management will continue to lead the company, and operations will remain the same. Acosta’s broad management team will continue to have significant ownership of the company.

Goldman Sachs & Co. and Barclays served as financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to Acosta. Morgan Stanley and J.P. Morgan Securities LLC served as financial advisors and Latham & Watkins served as legal advisor to Carlyle. Goldman Sachs, J.P. Morgan Securities LLC and Morgan Stanley have agreed to provide debt financing for the transaction.