Dolphin Entertainment, parent company of entertainment PR powerhouse 42West, has acquired The Door for $11M, which includes a performance-based contingent consideration of $7M.
The Door, which focuses on hospitality/lifestyle PR, branding and marketing services, has offices in Los Angeles, Chicago and New York.
Its clients include FAO Schwarz, Rachael Ray, Viceroy Hotels & Resorts, Virgin Hotels, Shake Shack, and Union Square Hospitality Group.
Dolphin CEO Bill Dowd sees “strategic advantages in housing a top entertainment and hospitality firm under one roof. “We expect additional revenue opportunities and operating synergies from this transaction, beginning with the opportunity to cross-sell services between the clients of 42West and The Door,” he said in a statement.
Dowd believes the ability of the combined firms to span the movies, TV, music, hospitality, epicurean and consumer products spectrum “multiplies the impact of each individual firm and makes the combination uniquely powerful.”
The Door chalked up 2017 revenues of $5.5M and an operating profit before guaranteed payments to partners of $568,794.
Lois Najarian O’Neill and Charlie Dougiello founded The Door a decade ago.