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Arnold’s acquisition last week of Simmons Durham gives the young network a beachhead in the Midwest with a showpiece client: Brown-Forman’s Jack Daniel’s brand spirits.
The 32-person shop, which claims about $70 million in billings and $9 million in revenue, has been rebranded with the Arnold name. Chairman/executive creative director Ted Simmons and president Les Diveley remain in charge. Terms were not disclosed, though sources said a shop of Simmons Durham’s size would likely sell for $7-10 million.
“Simmons Durham’s experience in the spirits category and its Midwest location will open up a variety of new business opportunities for Arnold,” said Ed Eskandarian, CEO and chairman of Arnold.
The Brown-Forman business represents about 50 percent of the former Simmons Durham’s overall billings.
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