CPG Marketer Acosta Files for Bankruptcy

The company agreed to convert $3 billion of debt into equity

A supermarket aisle with text that says
Acosta aims to "emerge with the strongest balance sheet in the industry." Getty Images, Acosta

Sales and marketing agency Acosta, Inc. filed for Chapter 11 bankruptcy in Delaware on Dec. 1 in a deal with creditors that will convert $3 billion of debt into equity.

@hiebertpaul paul.hiebert@adweek.com Paul Hiebert is a CPG reporter at Adweek, where he focuses on data-driven stories that help illustrate changes in consumer behavior and sentiment.