Snyder acquires London ad agency $27.7 million deal for Partners BDDH

December 03, 1998|By Shanon D. Murray | Shanon D. Murray,SUN STAFF

Snyder Communications Inc., a developer of marketing programs for large companies, acquired all of the outstanding stock yesterday of Partners BDDH of London in a $27.7 million transaction that expands its reach into Europe.

Bethesda-based Snyder said the acquisition of Partners will be accounted for as a pooling of interests and may add slightly to 1998 and 1999 earnings.

Snyder is expected to post 1998 sales of $800 million. About 40 percent of the company's revenue is from the United Kingdom, France and Germany, said Clay Perfall, Snyder's chief financial officer.

Snyder specializes in three segments -- health care marketing, advertising, and direct marketing, but only about 10 percent of its business is in advertising, he said. The acquisition is Snyder's first of an advertising agency based outside of the United States.

"We plan to use Partners as a platform for our advertising expansion into Europe," Perfall said. "We were unable to provide advertising services on the continent until now."

Partners is one of the leading independent providers of advertising, communications and interactive services in the United Kingdom. Its customers include British Telecom, Mercedes-Benz, Harley-Davidson and Emirates Airline.

The London-based company was founded in 1986 and has 95 employees. It had revenue of about $20 million last year.

Pub Date: 12/03/98

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