Jul 29 2013
Minneapolis, Minn. – July 29, 2013 – Padilla Speer Beardsley announced today that it has signed a letter of intent to acquire long-time partner CRT/tanaka, creating one of the top 10 independent agencies in the country as measured by the public relations industry. Upon close, the agency will be called PadillaCRT, with nearly 200 employee-owners in Minneapolis, New York, Los Angeles, Virginia and Washington, D.C. and annual net fee income of more than $30 million U.S.
PadillaCRT will focus on delivering cutting-edge, results-driven integrated marketing and communications campaigns across both traditional and emerging media channels. The agency will have deep expertise in food & beverage, health care, business-to-business marketing, consumer products & services, manufacturing, technology, agribusiness, recreation and other sectors, and award-winning capabilities in Branding, Research, Corporate and Investor Relations, Creative & Digital, Crisis Management and New & Social Media. Clients include BASF, Merck, UnitedHealth Group, Girl Scouts of the USA, 3M, Barnes & Noble College, U.S. Highbush Blueberry Council, CarMax, Wines from Rioja (Spain), Land O’Lakes, Cargill, Rockwell Automation, Ditch Witch, RTI Biologics, Hass Avocado Board and SAP.
“We’re creating a unique agency that clients will value and prospects will want on their short lists,” said Padilla CEO Lynn Casey, who will also serve as chair and CEO of PadillaCRT. “Combined, we’ll have a continued commitment to superior client service, deep industry experience in high-growth sectors and a range of specialties not commonly found in independent firms.”
The two firms have been long-time partners and have collaborated on several client assignments and joint employee professional development programs. Both firms are founding members of the Lumin Collaborative, the industry’s first multi-agency think tank. In addition, they have both received numerous local and national awards for strategic programs, client service and workplace culture.
“This combination makes strategic sense for our clients and our employees,” said CRT/tanaka CEO Mark Raper, who will serve as president of PadillaCRT. “We know each other well. We have a shared commitment to a collaborative, employee-ownership culture that translates into superior client service. By joining forces, a great next-generation agency will be born.”
CRT/tanaka employees will join Padilla’s existing employee stock ownership program (ESOP), creating one of the largest employee-owned agencies in the country. The deal is expected to close in late August. Financial terms were not disclosed.
About Padilla Speer Beardsley Padilla Speer Beardsley is an employee-owned, strategic communications firm with headquarters in Minneapolis and an office in New York City. Padilla has been named the “Best U.S. Agency to Work For” by The Holmes Report and has won multiple national and regional awards for its work, including PRSA Silver Anvils, SABRES and PRWeek awards. The agency also has earned a regional EMMY award for “Best TV Commercial Campaign.” Clients include BASF, Allianz Life, Be The Match, Cargill, Coppertone, Glastron, Four Winns, Land O’Lakes, Merck, Pentair, Rockwell Automation, SAP and UnitedHealth Group. It is a founding partner of the Worldcom Public Relations Group, a partnership of 100 independently owned partner offices in 133 cities on six continents. The firm’s website is www.padillaspeer.com.
About CRT/tanaka CRT/tanaka is a full-service communications agency known for its smart, creative and inspired thinking and industry-leading workplace culture. With headquarters in Richmond, Va. and New York, and offices in Los Angeles, Washington, D.C. and Norfolk, Va., CRT/tanaka features four integrated specialties – Food, Beverage and Nutrition; Health and Healthy Lifestyles; Consumer; and Corporate/B2B. The agency has been named “Best U.S. Agency to Work For” by The Holmes Report and has been recognized with more than 375 national and regional awards for its strategic counsel, creativity, workplace culture and community service. Clients include Air New Zealand, Avocados from Mexico, Barnes & Noble College, BISSELL Homecare Inc., Charles Schwab & Co., Federation of Quebec Maple Syrup Producers, Girl Scouts of the USA, Hass Avocado Board, Partnership at Drugfree.org, Sprint Nextel, the U.S. Highbush Blueberry Council and Wines from Rioja (Spain). More information about CRT/tanaka is available at www.crt-tanaka.com.