16424: Multicultural Majority Minority Ownership.

 

MediaPost reported that Burrell Communications Group was sold to FVLCRUM, a minority-owned private equity firm based in Rockville, Maryland. As Publicis Groupe gained minority ownership of the Black advertising agency in 1999—in order to let the shop retain its minority-owned status—FVLCRUM becomes majority minority owners. Hopefully, FVLCRUM will earn more than crumbs.

 

Burrell Communications Group Sold To New Minority Owners

 

By Steve McClellan

 

Burrell Communications Group, the highly regarded minority-owned multicultural advertising agency has been acquired by an equity consortium led by FVLCRUM Funds and Channing Johnson.

 

FVLCRUM is a minority-owned private equity firm based in Rockville, MD that specializes in impact and growth investments, while Johnson is a Los Angeles corporate attorney with decades of experience in media and entertainment. Johnson will serve as Chairman.

 

Tara DeVeaux, the former CMO of Los Angeles-based Wild Card Creative Group and Managing Director of its creative content division, 3AM, has been named the incoming CEO. She has a multifaceted background in advertising, media, and entertainment, having previously served at Y&R, SpikeDDB, and BBDO where she rose to CMO of the New York office.

 

Outgoing Co-CEOs McGhee Osse and Fay Ferguson announced the transaction today. “We are truly excited for Burrell’s next chapter,” states Osse. “It was pivotal to Fay and me to transition the company to a team that would be committed to investing in the agency, growing its capabilities and reach in the years ahead and maintaining the talent and culture that makes Burrell special.”

 

“Having jointly led Burrell for nearly two decades,” added Ferguson, “McGhee and I sought to ensure that the new ownership shared our vision, standard of values, and maintained Burrell's Minority Business Enterprise (MBE) designation.”

 

DeVeaux said, “With multicultural consumers driving most general market trends, the line between general market and multicultural advertising has never been grayer. Understanding where these consumers are now helps brands to project where they need to be in the near future, and that’s always been Burrell’s strength. I plan to build upon that legacy through a concentrated focus on data to deliver fresh insights and renewed creativity across all platforms.”