HMS Buys Pete Smith Advertising To Expand Minneapolis Operation

Seeking to expand its Minneapolis presence, HMS Partners last week signed a deal to acquire $7 million creative boutique Pete Smith Advertising. Terms were not disclosed.
Pete Smith’s 10- to 12-person agency will be merged into HMS’ Minneapolis office, said Rick Milenthal, vice chairman and chief executive officer of Columbus, Ohio-based HMS Partners. Tim Pearson will continue as managing partner of HMS in Minneapolis, while Smith will become the office’s executive creative director.
Milenthal positioned the acquisition as an “enhancement” of the office’s current creative staff and work.