Cox Enterprises announced that it is no longer exploring a sale of Valpak, based in Largo, FL. Cox had included Valpak among assets it said it wanted to divest in August 2008.
Why the change of heart? Here’s what the latest announcement had to say: “Since the company’s streamlining efforts began over a year ago, Valpak has aggressively entered new forms of media, and Cox believes Valpak has a promising future as it continues to generate new sources of revenue and drive greater profitability.”
“Cox is pleased with Valpak’s performance and Greg Bicket’s leadership. Valpak has strengthened its core business and identified new ways to generate revenue and increase exposure for its clients. And, in a year of economic uncertainty, Valpak provides great cost savings for consumers,” said John Dyer, Executive Vice President and CFO, Cox Enterprises. “
As consumers and businesses increasingly embrace online and mobile channels, Valpak said it is creating digital products to meet their needs. The company enriched Valpak.com, optimized the site for mobile phones and released an app for the iPhone that makes it easy to access savings on-the-go. The company said it also has benefited from partnering with other Cox companies such as Kudzu.com and Cox Media Group.