San Diego’s Biggest Ad Agency Will Be Sold
Franklin & Associates Advertising and Public Relations, San Diego’s largest ad agency and a unit of troubled Great American Bank, has agreed to be acquired by East Coast agency Earle Palmer Brown for an undisclosed price.
Franklin’s accounts include Great American, the San Diego Zoo and the San Diego Padres. Great American has been trying to sell Franklin for the past six months at the urging of federal regulators, who are forcing savings and loans back to traditional lines of business. Great American last week announced plans to sell all its California branches to Wells Fargo to raise capital.
Great American advertising accounted for about 20% of Franklin’ $35 million in gross billings last year, President Bob Cerasoli said. Other major clients include Union-Tribune Publishing, San Diego Gas & Electric Co. and Ektelon Racquetball Products.
With gross billings of $360 million last year, Earle Palmer Brown, based in Bethesda, Md., is the nation’s 24th-largest ad agency. The firm’s client list includes USAir, BellSouth, Omni Hotels and Donnelley Directory. Earle Palmer Brown also runs a large public relations operation, which ranks 21st in the nation in gross revenue.
The acquisition of Franklin, which has 60 employees, is expected to close next month. The purchase will give Earle Palmer Brown its first office on the West Coast, although more openings are planned.
