Ketchum Acquires Sheppard Associates
True to predictions that acquisitions will be a revenue linchpin for PR firms in 1999, Ketchum announced Thursday that it is acquiring $14 million-in-income Sheppard Associates to build a global $20-million-plus Workplace Communication Practice.
The new practice will be headed by Peter Fleischer, partner/director of Ketchum's Chicago office. Don Sheppard, who founded the 85-employee firm in 1986, will become part of the fledgling workplace practice. The practice will focus on a laundry list of internal barometers, including employee loyalty; internal brandbuilding; change management communication; and recruting and retention.
Ketchum CEO Dave Drobis called the deal very important because "we are rapidly coming to the conclusion that employees may, in fact, be the most important constituency." (Ketchum, 212/448-4411)