Ingalls Seeks Suitors

BOSTON – Ingalls, the largest independently owned ad agency in New England, has placed itself on the selling block, with chairman Bink Garrison soliciting offers from at least two Boston shops, sources said.
Arnold Communications, Holland Mark Martin Edmund and possibly others have been approached in recent weeks about an outright purchase of the $140 million shop, and Arnold chairman Ed Eskandarian has already had a “low-ball” offer rebuffed, sources said.
“We’ve talked to everybody, everywhere, all the time,” Garrison said last week, but declined further comment.
Garrison has told staffers that a sale is imminent, and he has hired a “third party” to make initial contacts with prospective buyers, said sources.