Brown & Bigelow Acquires The Adcentive Group
October 28, 2010
Expanding its operations in southern California, Counselor Top 40 distributor Brown & Bigelow (asi/148500) has acquired The Adcentive Group (asi/105630), the companies have announced. Financial terms of the deal, which closed on October 15, were not released. “The Adcentive Group is the largest independent distributor in San Diego, which was attractive to us,” said Bill Smith, Jr., executive vice president at Brown & Bigelow. “We’ve been having discussions about a deal for some time. We‘re excited to have The Adcentive Group join us.”
Per the agreement, The Adcentive Group will become a division of Brown & Bigelow, maintaining its offices and increasing its sales staff. Bob Jorgensen, president of The Adcentive Group, will keep his position for at least one year to help in the transition. “We have 13 salespeople ourselves and Brown & Bigelow has another five in this area that will be joining us,” said Jorgensen, whose company generated 2009 revenues of over $3 million. “This was the right time for us to do this because we just didn’t have the capital to make deals with larger companies.”
Following the acquisition, Brown & Bigelow now has 17 offices across the country, according to Smith. “We’re always looking for other opportunities to expand,” he said. Sales at the Minnesota-based distributor are up in the range of 5% for 2010, Smith said. Last year, Brown & Bigelow reported North American ad specialty revenues of $57.5 million, making it the 23rd-largest distributor in the industry.