A local public relations and marketing firm has struck a deal that beefs up its presence in New York City and gives it offices in Los Angeles and Washington, D.C.
Padilla Speer Beardsley of Minneapolis is acquiring CRT/tanaka. The combined entity will be called PadillaCRT, with nearly 200 employees and annual net billing of more than $30 million.
The larger presence in the Big Apple is a key part of the deal and should raise the company's profile with some potential clients, said Padilla chief executive Lynn Casey, who will serve as chair and CEO of PadillaCRT.
"We will have a significantly larger presence in New York, which doesn't matter for the majority of our clients. But for some decision-makers who prefer to work with a firm with a more sizeable presence, we'll be able to be on their short list," Casey said.
The combined firm will have more than 30 employees in New York. Terms of the deal were not disclosed. Padilla's clients include UnitedHealth Group, 3M, Land O'Lakes and Cargill.