NEW YORK: Interpublic Group has acquired New York-based marketing
PR firm DeVries Public Relations. It will join IPG's Advanced Marketing
Services group (AMS). DeVries founder and CEO Madeline de Vries will
report to AMS chairman and CEO Larry Weber.
Neither side would give terms of the deal, but 23-year-old, 60-person
DeVries will retain its name, management, and operational
DeVries reported 2000 revenues of $10 million and grew over 20%
in the first half of 2001. Clients include Procter & Gamble, Tupperware,
Old Navy, 3M, GlaxoSmithkline, and Pfizer.
Weber said he bought DeVries because it offers marketing services
(including product development) as well as PR. "Now that we have
domination with Weber Shandwick, I want to fill in high-quality
specialty niche firms that can access the networks of our other groups,"
DeVries said the purchase confirmed her business model of specialty
services for relatively few clients. "Our business is very strong, which
we appreciate in this climate, and it's nice to get respect from
Interpublic," she said.