Chime acquires Northern PR firm Baxter-Hulme in £1m deal
LONDON - Chime Communications has acquired public relations consultancy Baxter-Hulme for almost £1m, just days after announcing a £30m deal with marketing services agency VCCP.
The company is paying an initial sum of £307,500 for the Macclesfield-based company, with 50% in cash now and 50% in Chime shares by March 2006, depending on the company meeting certain profit targets.
The group is paying a further £692,500 by March 31 2008, with 50% payable in cash and 50% in Chime shares.
Last week, Chime acquired VCCP, along with a share deal with the WPP Group, with £14.4m paid upfront and a further £15.5m paid after the completion of set targets.
Chime chairman Lord Bell said: "This acquisition will strengthen Bell Pottinger's presence in the north of England. Since the launch of Bell Pottinger North last year we have already done work for more than 20 clients from across the private and public sectors."
Last week, Chime announced that its new-business director Bertie Way would be leaving after 19 years with the group to move to financial and corporate communications consultancy, The Company Agency, as business development manager.
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