Draft Worldwide, Chicago, acquired Kevin Berg & Associates Marketing, Chicago. The deal was expected. KBA is an event marketing agency that targets young adults through venues such as bars and nightclubs. KBA President Kevin Berg and Exec VP Michael Blatter remain in their posts. Draft said KBA had 1997 capitalized billings of $120 million. Terms of the acquisition were not disclosed, but the purchase price was estimated at $15 million to $20 million.
Copyright July 1998, Crain Communications Inc.