SAN FRANCISCO (AdAge.com) -- Independent ad agency Butler, Shine & Stern has acquired interactive marketing services firm SF Interactive. Terms of the deal were not disclosed.
With the acquisition, Sausalito, Calif.-based Butler Shine has repositioned itself as an independent agency holding company, Butler, Shine, Stern & Partners. Butler Shine in 2001 acquired the design group PenaBrand.
Greg Stern named CEO
Greg Stern, the agency's president, becomes CEO of the new operation. SF Interactive's founder-CEO, Bruce Carlisle, will remain in charge of interactive agency, and will become president of the holding company.
"With everything that's going
Mr. Stern's partner, John Butler, co-creative director, said that in a region with numerous creative shops all competing for the same new-business accounts, he hopes the acquisition will be a point of differentiation for Butler Shine.
Doubles agency's size
The acquisition almost doubles the size of Butler Shine. Prior to the acquisition, the agency had 40 employees and $45 million in billings from clients including Einstein Noah's Bagel Corp., Ubi Soft Entertainment and Weider Nutrition. SF Interactive has 35 employees with billings of about $33 million. (PenaBrand currently has 6 employees.)
Mr. Stern said the plan is to move SF Interactive from its San Francisco offices across the Golden Gate Bridge to Butler Shine's Sausalito facility.
CORRECTION: An earlier version of this story incorrectly reported that Greg Stern was a co-founder and co-creative director of Butler, Shine & Stern.