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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
September 26, 1995
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Date of report (Date of earliest event reported)
ADVO, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-11720 06-0885252
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(State or other jurisdiction (Commission file (I.R.S. Employer
of incorporation) number) Identification No.)
One Univac Lane, P.O. Box 755, Windsor, CT 06095-0755
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (860) 285-6100
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Item 5. Other Events
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On September 26, 1995, ADVO, Inc. (the "Company") announced it had
retained Goldman, Sachs & Co. as its investment advisor to assist its
Board of Directors in exploring strategic alternatives aimed at
enhancing long-term shareholder value. The Company said these
alternatives may include a sale of the entire company in one or a
series of transactions, a business combination, a reorganization or
recapitalization or any similar transaction. The Company said that no
decision had been made to pursue any particular strategic alternative,
and there could be no assurance that any transaction will result from
the Company's exploration process.
The Company also announced that it had elected to sell its Marketing
Force subsidiary. For financial reporting purposes the sale will be
treated as a discontinued operation. The Company has been approached
by several potential buyers.
Item 7. Financial Statements and Exhibits
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The following exhibit is filed herewith.
Exhibit
No. Description
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99 Press release, dated September 26, 1995, issued by the Company.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ADVO, Inc.
Date: October 6, 1995 By: David M. Stigler/s/
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David M. Stigler
Senior Vice President,
Legal and Public Affairs,
General Counsel and Secretary
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Exhibit No. 99
ADVO ANNOUNCES PLANS TO EXPLORE STRATEGIC ALTERNATIVES,
AND PLANNED SALE OF MARKETING FORCE SUBSIDIARY
Windsor, CT - September 26, 1995 - ADVO, Inc. (NYSE: AD) today announced
that it has retained Goldman, Sachs & Co. as its investment advisor to assist
its Board of Directors in exploring strategic alternatives aimed at enhancing
long-term shareholder value. The company said these alternatives may include a
sale of the entire company in one or a series of transactions, a business
combination, a reorganization or recapitalization or any similar transaction.
The company said that no decision has been made to pursue any particular
strategic alternative, and there can be no assurance that any transaction will
result from the company's exploration process.
The Company also announced that it has elected to sell its Marketing Force
subsidiary, which sale will be treated as a discontinued operation for financial
reporting purposes. The Company has been approached by several potential
buyers. Robert Kamerschen, ADVO's Chairman and CEO, said "Structural changes
within the In-Store Services Market, as well as the Company's desire to focus
its resources on the significant potential within its growing core direct mail
business, have mandated our disposition of this business."
ADVO is the nation's largest full-service direct marketing services company with
annual revenues of almost $1 billion. ADVO specializes in shared and solo
direct mail services to provide customized Microtargeting(TM) solutions for its
clients' needs. The Company's Mailbox Values(R) branded shared mail program is
distributed nationally to over 57 million households weekly. ADVO also offers
limited printing and transportation services. It has 22 production facilities
and 80 sales offices nationwide. ADVO's corporate headquarters are located at
One Univac Lane, Windsor, CT 06095.
Contact:
Donald McCombs David Stigler
Investor Relations Legal and Public Affairs
ADVO, Inc. ADVO, Inc.
(860) 285-6391 (860) 285-6120
