BtoB

Marketing Services Group sells Grizzard to Omnicom for $93M

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New York--Marketing Services Group Inc. has sold Grizzard Communications Group, its direct marketing unit, to Omnicom Group Inc., New York, for $93 million in cash. The sale of Atlanta-based Grizzard, whose b-to-b clients include BellSouth Corp. and United Parcel Service, is a bid my Marketing Services Group to improve its financial position. At the closing of the deal, which is to happen within a month, Marketing Services Group will have $25 million in cash and no long-term or short-term debt.
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