WASHINGTON: APCO Worldwide has acquired a majority stake in advertising agency StrawberryFrog.
“What we're hearing from our clients is that the lines are blurring when it comes to the difference between paid and earned media. Those disciplines are connecting,” said Evan Kraus, EVP and head of APCO's StudioOnline. “It's increasingly a stakeholder-driven world. We wanted to get into advertising as increasingly our clients had needs in that area.”
StrawberryFrog will continue to operate independently with its current management team in place, said Scott Goodson, CEO of the ad agency. The firm has about 100 staff members, he added.
“APCO has an amazing pedigree. It has managed a global footprint and will accelerate StrawberryFrog's rise,” Goodson explained. “We're leaving the age of short-hand category descriptions…This is all about strategy and being able to deliver on multiple platforms. This is the future.”
APCO reported 25% growth in its 2010 US revenue to more than $75 million. It listed its global revenue at $113.4 million in 2010. APCO has 30 wholly owned offices around the world.
In the past year, APCO has hired former US Rep. Baron Hill as SVP of government relations and former Porter Novelli CEO Helen Ostrowski as a senior advisor in its healthcare practice. Earlier this month, it promoted Paul Dyck to SVP of its government relations unit.
StrawberryFrog makes about $20 million in revenue and has worked with companies including Procter & Gamble and Beam Inc.