has acquired and reorganized the in-store media company under a new label.
Financial terms of the deal weren't disclosed. Blackstreet a Bethesda private-equity company purchased Fanfare Media from Beltway Capital Partners LLC of Hanover. Md.
FMW based in Valencia. Calif. offers a suite of targeted advertising products and services that are distributed through a national network of 9,500 supermarkets and medicate stores.
Lawrence Berger a principal with Blackstreet said FMW has about 900 employees including 600 salespeople. No layoffs are planned as a result of the transaction.
Berger said that Blackstreet which has $88 million of capital under management plans to grow FMW which will be based in Valencia.
FMW has been in business for about 57 years.
"Fundamentally it's a good company," Berger said.
Blackstreet has brought in Brendan Ross as president and CEO of FMW. Ross is a former president of a camping reservation and campground management services provider.
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