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Another Advertising | Marketing Firm Sells to ESOP

Drake Cooper, a 42-year-old advertising firm located in Boise, Idaho announced this week that they have become 100% Employee (ESOP) owned. 

The firm’s President and CEO, Jamie Cooper announced, "since 1978 when Bill Drake founded the agency, we’ve always believed our people are the key to our clients’ success and therefore to our agency’s success and longevity.  This new chapter is an extension of who is agency has always been and the values we’ve always tried to uphold.  I am very excited for our new employee-owners and this journey we will all take together."

Drake Cooper is the latest in a series of advertising, marketing and PR firms to sell to ESOPs.  This trend is largely the result of “word of mouth” spread of the ESOP idea between and among such firms.  We have seen that ESOPs become quite common to industries which value “peer to peer” discussions (i.e., the ability to meet with other companies who have similar businesses in different markets).

About the Author

Timothy Stewart is an attorney practicing out of our Metro Milwaukee office. He is a member of the Employee Benefits, ESOP and Labor & Employment Relations practice groups. Contact Tim by email or by phone at (262) 754-2869.

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DeWitt LLP is one of the ten largest law firms based in Wisconsin, with an additional presence in Minnesota. It has more than 130 attorneys practicing in Madison, Greater Milwaukee, Green Bay and Minneapolis in over 30 legal practice areas, and has the experience to service clients of all scopes and sizes.

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