Three of the four principals at Salt Lake City's FJCandN have sold their stakes in the agency to form a spinoff branding company called Brand Force. The operation is expected to extend the range of services available from the agency while carving out its own identity in the region.
"I guess you could say FJCandN is now just 'andN,' " quipped Dave Newbold, the remaining principal who had served as creative director and now ascends to president. The agency had $50 million in billings last year and touts itself as the largest independently owned ad agency in Salt Lake City.
"Branding is an area we have developed, and this really enhances our position," continued Newbold, who said an agency name change is not imminent. "Branding is something [the three departing principals] took great joy in. It is something they can really develop when they work on it full-time."
The new venture has been created by FJCandN chairman Bob Fotheringham, president Bruce Jensen and strategic resources director Hal Christensen. The three have relinquished those posts. Brand Force will share office space with FJCandN, and the three executives will not have specific titles other than partner.
The equity owned by the trio has been purchased by Newbold, director of client services Peggy Lander and public relations director Tim Brown. Financial terms were not disclosed.
"There are a couple of reasons why we did this," said Jensen. "We can now focus our efforts on more comprehensive branding strategies. In doing so, we can offer a very valuable process for clients."
Jensen added that he was also keen to drop his administrative responsibilities while enabling others at the company to move to an equity position.
Newbold was the last of the four principals to join the agency, hired in 1994 from Bonneville Communications across town. That move coincided with the agency name change to FJCandN from Fotheringham & Associates and led to a creative renaissance for the shop during the mid-1990s.
FJCandN's clients include the Utah Transit Authority, Home Depot and Jackson Hole Mountain Resort.