FCB Acquisition Anchors BP&N/Seattle

SEATTLE – Borders, Perrin & Norrander got a new lease on life in Seattle, thanks to Foote, Cone & Belding’s planned acquisition of the shop. After 14 perilous months for BP&N/Seattle that resulted in approximately $15 million in account losses, observers expected the office to close. But with a nod from its new parent, agency executives have just signed a six-year lease on new space here. Pete Hatt, chairman of the estimated $40-$50 million Portland, Ore.-based BP&N, said that no consideration had ever been given to closing. Still, he conceded the Seattle office has been troubled. ‘All of that was made known to FCB management, they didn’t find fault and they will support the office,’ Hatt said. ‘In BP&N, we looked at the underlying fundamentals, the quality of the creative work, irrespective of the business won or lost,’ said Jack Balousek, FCB/West president and coo. ‘While they may have had a difficult time in Seattle the last couple of years, we think it’s temporary.’
Copyright Adweek L.P. (1993)