Merger Announcement: Fitzco Gets Acquired by Burrell Communications, Expanding the Black-Controlled Agency Consortium
Revamped Take:
In a major move, Chicago-based advertising powerhouse Burrell Communications Group has cast its net wide, snapping up Atlanta's fiercely independent Fitzco agency. The deal, which has FVLCRUM Funds and Channing Johnson, a corporate attorney-turned-investor at Loeb & Loeb LLP, as its backers, lays the groundwork for BCG Worldwide—the advertising industry's first-ever Black-owned agency network.
The cooperation between these two dynamic, founder-led firms promises a powerhouse pairing with complementary strengths. Post-acquisition, Fitzco will sail under its own flag while collaborating with Burrell on client projects. Combined, they now boast a workforce of around 190 across the U.S.
Moolah details of the transaction remain under wraps. As for Fitzco, founded in '83 by Dave Fitzgerald and previously under the McCann network's wing, it was repurchased and made independent again by Fitzgerald himself in 2020. Fitzco'sMEDIA prowess, including planning, buying, measurement, and analytics capabilities, beautifully complements Burrell's focus on cultural insights and strategy.
Tara DeVeaux, CEO of Burrell Communications and BCG Worldwide, expressed her excitement about the union to ADWEEK: "Pairing Fitzco with Burrell. It's like we struck advertising heaven!"
Integrating operations, the agencies will share back-office functions under the BCG Worldwide umbrella. Joint pitches are already in the works, with Fitzco's Atlanta locale giving Burrell a strategic foothold in the Southeast—a region teeming with Fortune 500 companies.
DeVeaux hints at BCG Worldwide's vision to overhaul stale industry labels. "General market agencies," she said, "are often perceived as catering to everyone, regardless of their ethnicity. Multicultural agencies, on the other hand, are frequently confined to addressing only specific communities. We believe that multicultural encompasses all, including the white community—and no one is a one-dimensional character."
The BCG Worldwide team plans to seek out additional acquisitions in the future, with the objective of amplifying capabilities without losing focus on shared values. "We're on a mission, not to line our pockets with gold by financial engineering," said Martin. "We want to build something that lasts and grows in the right way."
Interestingly, Fitzco's founder Dave Fitzgerald, after helming the agency for over four decades, will be stepping down, with Evan Levy stepping into the CEO role.
The Fitzco-Burrell union is only the starting point for BCG Worldwide's endeavors—a testament to their bold vision and commitment to transforming the advertising industry.
Side Notes:
- Historically, Burrell Communications Group has been recognized as one of the leading black-owned advertising agencies. A Black-owned agency network spearheaded by Burrell Communications Group could have a vision focused on enhancing diversity and representation in the industry.
- A Black-owned agency network could aim to provide authentic cultural insights and expertise, enabling brands to better connect with diverse audiences, and foster growth through innovative advertising strategies tailored to diverse markets.
- By acquiring Fitzco or other agencies, Burrell Communications Group would expand capabilities and broaden the network's reach within diverse markets.
- The acquisition of Fitzco agency by Burrell Communications Group, backed by FVLCRUM Funds and Channing Johnson, is a strategic deal that lays the foundation for BCG Worldwide, the first-ever Black-owned advertising agency network.
- Post-acquisition, Fitzco will maintain its independence while collaborating with Burrell on client projects, creating a powerhouse pairing with complementary strengths.
- Fitzco's MEDIA prowess, including planning, buying, measurement, and analytics capabilities, beautifully complements Burrell's focus on cultural insights and strategy, amplifying BCG Worldwide's capacities.
- The integrated operations of the agencies will share back-office functions under the BCG Worldwide umbrella, with Fitzco's Atlanta locale giving Burrell a strategic foothold in the Southeast—a region rich with Fortune 500 companies.
- Tara DeVeaux, CEO of Burrell Communications and BCG Worldwide, aims to overhaul industry labels by challenging the notion that multicultural agencies cater only to specific communities, advocating for a more inclusive approach to advertising and marketing.
- As BCG Worldwide plans to seek out additional acquisitions in the future, they aim to amplify capabilities without losing focus on shared values, with the ultimate goal of building a lasting, growing network in the advertising industry.
