Clarke Goward acquires Boston business of Mintz & Hoke; Increases billings by $7 million.

BOSTON--(BUSINESS WIRE)--May 18, 1995--Terence M. Clarke, president and chief executive office of Clarke Goward Advertising, the seventh largest advertising firm in Boston, announced today that his firm has acquired the Boston business of Mintz & Hoke, a division of Mintz & Hoke, Avon, Conn., for an undisclosed sum.

The acquisition boosts Clarke Goward's billings by $7 million to $29 million. Key accounts gained are Millipore, a $500 million worldwide manufacturer of filtration systems; Wendy's Co-ops in Boston, Hartford and Albany, N.Y.; and Pilgrim Healthcare. Clarke Goward represents among others, clients in consumer products (Eastpak, Pony USA, Boston Harbor Hotel, American Hard Cider Co.), business-to-business (Allendale Insurance, JPS Elastomerics, Boston Edison) and financial services (Working Assets Capital Management) as well as WBUR radio.

Additional staff may be added at Clarke Goward to accommodate the growth of the agency. Steve Sullivan, president of Mintz & Hoke's Boston business, under a separate agreement, becomes chief operating officer of Clarke Goward.

"During the past twelve months Clarke Goward has strengthened its creative product and won several important accounts," Clarke said. "The acquisition not only provides us with a larger revenue base and allows us to accelerate growth, but adds support for several key areas in the agency."

According to Joe Hoke, his agency benefits in several ways particularly in light of several new accounts recently won, including Ames and Edwards.

"On one hand we realize cash from the sale. More importantly, we now can focus on managing the recent surge in new client relationships in our Avon office. Business is booming and we need to take care of it," Hoke said.

"There is a personal side to this as well," Hoke noted. "Steve Sullivan, a long time friend, partner and major shareholder in Mintz & Hoke, became settled in Boston and wanted to secure his future there. The sale, together with Steve's move to Clarke Goward, gives all parties involved a win-win-win situation."

Sullivan agreed.

"For the past few years Joe and I have been exploring strategies for growth of the Boston business. We looked at several opportunities to acquire other agencies, as well as what it would take to lure great creative and media talent. The opportunity arose to affiliate with what many acknowledge is the top creative team in Boston, headed by creative director Jonathan Plazonja.

"Although it meant selling our Boston business, The benefits to both agencies and their clients were too compelling to pass up," Sullivan said.

Sullivan will be responsible for corporate development and general agency management, according to Clarke. Jonathan Plazonja, executive vice president and creative director, will continue to lead the creative team. Matthew Kelley will continue as chief financial officer, Mike Norton as senior vice president, director of account service, and Mary Kincannon as vice president, media director.

The announcement comes two weeks after Clarke Goward was named finalist for the "A-Plus Creative Award" presented annually by the American Association of Advertising Agencies. Only two New England agencies were so honored this year.

CONTACT: Clarke Goward Advertising, Boston

Terry Clarke, Steve Sullivan, 617/536-7611

or

Mintz & Hoke, Avon

Joe Hoke, Diane Edwards, 203/678-0473