ATLANTA Blattner Brunner said it has acquired independent Atlanta shop Sawyer Riley Compton.
Terms of the purchase were not disclosed, but the Pittsburgh agency now owns all of SRC. The Atlanta shop will be called Blattner Brunner/SRC for the next year, then SRC will be dropped from the name.
Louis Sawyer and Frank Compton, the principals of SRC, will continue to run the Atlanta shop. Sawyer, formerly president and CEO of SRC, will be co-managing director and chief strategy officer of Blattner Brunner/SRC and Compton, formerly SRC chairman, will be co-managing director and chief creative ambassador. Both have contracts through the end of 2007 and will report to Blattner Brunner chairman Michael Brunner and executive vice president Scott Morgan.
Brunner and Compton said they have known each other for more than a decade but negotiations for the sale did not begin until late last year. "I feel the cultural fit into our organization is a lock," Brunner said.
The addition of SRC adds about $20 million to Blattner Brunner's annual billings, pushing the total to about $160 million this year, Brunner said. SRC's client roster includes Coca-Cola, Dow Chemical, CNN and Goldkist Farms.
SRC is Blattner Brunner's second acquisition in as many years. The shop acquired MHI in Washington, D.C., in September 2003, from Multimedia Holdings Inc.
Few immediate staff changes are planned for the Atlanta agency, Compton said. The shop plans to add a new business director and move its financial operations to Pittsburgh, he said. Currently, SRC has a staff of 15.