Promotion Execution Partners (PEP) announced today a shift in ownership structure scheduled to be completed over the next two and a half years. Although the exact terms of the sale were not released, according to the statement made by Mike Ricketts, CEO at PEP, "Valassis has agreed to relinquish up to 20% of their ownership over the next 30 months." Currently Valassis (NYSE:VCI) owns 48% of Promotion Execution Partners however, based on the terms of this agreement, that position could be reduced to 29% by September 2009. In addition, both Dave Kroeger and Darian Richardson have options to increase their equity position within the company. Kroeger and Richardson are two of the four equity partners, who along with Valassis, comprise the ownership group for PEP. Mike Ricketts and Carolyn Farrow-Garland are the remaining two partners.

PEP is a Cincinnati based company that provides project management and promotion execution services to leading companies including Procter & Gamble, Colgate and Heinz. "Promotion execution is our core competency," said Kroeger. "Our dedication to process, our people and our PEPConnect system, combined with our passion enables PEP to consistently execute promotions on time, on budget and within specification. Using state of the art project management systems and a network of over 150 vendors and suppliers, we have been able to execute more than 2,000 promotions over the last two years with outstanding results for our clients."

Started in July of 2004 in response to emerging needs at a local client in the areas of promotion management and execution, the team at PEP has grown to a full-time staff of 37, with offices in Cincinnati, Ohio; Detroit, Michigan; Pittsburgh, Pennsylvania; and Boston, Massachusetts. ABOUT PROMOTION EXECUTION PARTNERS

Promotion Execution Partners, (PEP), is a Cincinnati based company that provides promotion execution services for their clients. Started in 2004, the principals at PEP provide over 40 years experience and a track record of meeting project management performance goals and exceeding client expectations. With a staff of over 35 and 4 offices nationwide, PEP brings not only proven, innovative approaches to promotion execution management but as an MBE, also helps companies who have adopted supplier diversity initiatives meet their tier one spending objectives. For more information on PEP visit http://www.peppromotions.com.

SOURCE: Promotion Execution Partners, 2007

Promotion Execution Partners (PEP)
David M. Kroeger kroegerd@peppromotions.com
PEP Cincinnati Office: (513) 826-0102