Two Greenville, S.C., advertising agencies--Phillips & Goot and Greg & Greg--have cast their lot together to form Phillips Goot Greg & Greg.
The new entity, which will employ 37 staff members, estimates billings in excess of $17 million. An exact total is difficult to determine because Greg & Greg handled several accounts on a project basis.
The business merger, according to Phillips & Goot principal Mike Goot, comes after years of mutual admiration and informal discussions by parties on both sides.
"We've been talking about it for the last five years," Goot said. "After a while we could see we shared the same vision, and we appeared to be moving in the same direction. When Jim Cockman came on as a partner [at Phillips & Goot], he asked us why we hadn't put anything together."
Indeed, it was Cockman who served as the catalyst to get both agencies to initiate formal business procedures to merge their advertising operations. He met last November for lunch with Greg Cordell of Greg & Greg, but it was only in the last eight weeks that the business deal finally came together.
"Essentially, what we're doing here is merging two very similar organizations," said Cordell. "We're combining our resources, strengths and talents in an effort to be able to offer both existing and future clients enhanced, truly integrated marketing services."
The agency's newly combined client roster now includes the likes of American Federal Bank, Electric Lite and IKON South Carolina.
Greg & Greg will terminate design projects for a competing financial institution. Phillips said that was the only account conflict to arise from the deal.
Where the "new" agency will be housed has not been determined. Greg & Greg's current lease expires in June, but the present offices of Phillips & Goot cannot accommodate the merged staff.