Sports marketing shop Octagon has absorbed promotion shop Andover Marketing, moving its staff of four into Octagon’s Norwalk, CT headquarters this week.
No money changed hands in the merger; Andover’s staff join IPG-owned Octagon with financial incentives tied to performance targets, said Octagon President Jeff Shifrin.
The merger beefs up Octagon’s promotion execution capabilities to enhance its sports- and entertainment-based campaigns. There are no client conflicts. The agencies both work for Pfizer and for Unilever, but for different divisions in each case. Octagon picks up Andover’s pitch in an ongoing review for a current Octagon client — but again, in a different division, Shifrin said.
Andover founder David Parkes becomes senior VP, overseeing Octagon’s North America Marketing Solutions division, including promotions, creative, merchandising, multicultural marketing, sampling and mobile marketing.
“We can take the disciplines we know well and provide additional support to Octagon clients,” Parkes said.
“Andover has had a sustainable business for 10 years, and David Parkes and I have known each other for 20 years,” Shifrin said. “It was in both agencies’ interests to merge.”
Fairfield, CT-based Andover brings three other staffers to Octagon: client services director Steven Bollman, strategic marketing planner and researcher Myra Shapiro, and promotions specialist Patti Santucci.
Octagon ranked No. 12 in the 2006 PROMO 100 with estimated 2005 net revenues of $37.9 million, up an estimated 85% from 2003. Andover was not ranked.
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