APCO Worldwide has acquired a majority stake in New York-based ad agency Strawberry Frog, a consumer shop which works for clients like Procter & Gamble, Heineken, Liberty Mutual and Jim Beam.
Twelve-year-old Strawberry Frog has outposts in Amsterdam, Mumbai and Sao Paolo and revenue in the $10M-a-year range handling traditional advertising, digital, mobile, social media and content, among its services. Terms of the APCO deal were not revealed.
APCO CEO Margery Kraus said the ad agency’s focus on “movements” aligns well with her firm’s approach to stakeholder engagement when “persuasion today requires finding points of shared interest and then launching campaigns that connect emotionally.”
SF co-founder Scott Goodson said the agency has ambition to be “more active on the global stage” and has been approached by several suitors, but he noted APCO, which operates in 32 global markets, has an “independent spirit and global pedigree” that fits.
APCO said SF will maintain its own culture, brand, creative independent and management. Co-founder Karin Drakenberg and chief creative officer Kevin McKeon round out SF management.
APCO posted 2010 revenue of $113.4M, making it the second largest independent firm in the O’Dwyer rankings.