Advertising Firms Reach Accord on Combining Forces
Two veteran San Diego advertising agencies agreed Tuesday to combine their businesses, forming the county’s second-largest ad firm with $24 million in annual billings.
Franklin & Associates, with $18 million in billings last year, acquired The Phillips Organisation with $6 million in billings, in an all-cash deal. Terms were not disclosed, however.
Franklin & Associates will be the surviving entity, with President Bob Cerasoli retaining his title and Phillips Organisation President Bob Phillips becoming executive vice president.
No layoffs from the combined 62-member staff are planned, according to both Cerasoli and Phillips.
“We’re going through the ritual of trying to figure out who fits where,” Cerasoli said Tuesday.
The Phillips Organisation will leave its Mission Valley headquarters and move into Frank & Associates’ offices at the Great American Building downtown.
Franklin & Associates, founded in 1969, is a subsidiary of Great American First Savings Bank. The agency handles the S&L;’s advertising.
Other clients include Di Giorgio Development, San Diego County Chevrolet Dealers Assn., National Decisions Systems and PAMCO Securities.
Clients of The Phillips Organisation, founded in 1974, include the San Diego Padres, San Diego Nissan/Suzuki, Jazzercise, Pacific Insurance Agency, Southwest Bancorp and Bianchi International.
