Following a dozen years as a staunch independent, Pierce Promotions & Events has agreed to a purchase by agency conglomerate Omnicom. The Portland, ME-based firm became part of Omnicom’s Radiate Group last week.
The acquisition, however, has been in development since April, says Steve Woods, president of Pierce. “But we’re staying in Maine, continuing to operate as Pierce; this new arrangement means great things for the future.” Terms of the deal were not disclosed.
Pierce, which was ranked 29th in the PROMO 100 published in June, reported 2002 net revenues of $5.9 million. The firm is one of three agencies contracted to provide “retailtainment” events in Wal-Mart stores across the country; clients include Gillette and Campbell’s Soup. It joins such promotions shops as Alcone, GMR Marketing, The Integer Group and Tracy Locke Partnership under its new corporate ownership.