Merrill, Childs to Buy Irvine Marketing Firm

Merrill Lynch & Co.’s buyout unit and J.W. Childs Associates have agreed to acquire an Irvine marketing company from Allied Capital Corp. for $1.05 billion.

New York-based Merrill Lynch and Boston-based J.W. Childs will acquire a majority stake in Advantage Sales & Marketing, the companies said. Advantage has 1,200 clients, including Unilever and Del Monte Foods Co.