Colle & McVoy on acquisitions hunt

BLOOMINGTON, MN: As it seeks to become an even larger force on the Twin Cities communications landscape, Colle & McVoy Marketing Communications is on the hunt for PR and ad agencies.

BLOOMINGTON, MN: As it seeks to become an even larger force on the Twin Cities communications landscape, Colle & McVoy Marketing Communications is on the hunt for PR and ad agencies.

BLOOMINGTON, MN: As it seeks to become an even larger force on the

Twin Cities communications landscape, Colle & McVoy Marketing

Communications is on the hunt for PR and ad agencies.



CEO Jim Bergeson is looking for ’good strategic fits’ in areas such as

investor relations, public affairs and events marketing. Rolle boasted

revenues of roughly dollars 28 million last year, with dollars 7 million

of it coming from PR operations.



If Colle carries through with its plans to buy other agencies, it could

find itself butting heads more frequently with Shandwick, whose flagship

Minneapolis office is the largest in the Shandwick network (more than

dollars 16 million in billings last year). ’Colle & McVoy is as good as

any PR shop in this town,’ said Maccabee Group head Paul Maccabee. A

local business publication recently ranked Colle’s PR operation third in

the Minneapolis area, behind longtime number-one Shandwick and local PR

player Padilla Speer Beardsley.



Coincidentally, Colle and Shandwick are located in the same suburban

office park. ’Job applicants go back and forth,’ Maccabee joked, before

adding, ’They’re going up against a formidable and very aggressive

competitor.’



Bergeson doesn’t rule out growing his PR operation to the extent where

it challenges Shandwick’s supremacy. He won’t discuss how big a war

chest his parent company is providing for acquisitions, but confirmed it

has encouraged him to buy. ’They seem very anxious to invest in us,’ he

said.



Given that there are more independent PR firms than ad agencies in

Minneapolis, Bergeson hinted that Colle will do more shopping on the PR

side. ’If it makes strategic sense, we’re willing to talk,’ he said,

adding that his next purchase will likely be in the loyalty marketing

area.



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