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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
Tim is President & Managing Partner of DeWitt. He is also a partner in the Greater Milwaukee office specializing in Employee Stock Ownership Plans (ESOPs) and Employee Benefits. He can be reached at 262-754-2869.
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