Freeman Acquires Global Brand Experience Agency Sparks
August 7, 2023
Freeman has acquired Sparks, a global brand experience agency with more than 750 employees. Sparks provides exhibit and event experiences to a diverse group of Fortune 1000 brands, including Google, Salesforce, Anheuser-Busch InBev and T-Mobile. Sparks will combine with Freeman’s agency business, which also caters to major corporate clients, including Amazon, Cisco and Kohler.
“Our combination with Sparks creates a unique opportunity to accelerate Freeman’s vision to become a leader in the corporate space,” said Freeman CEO Bob Priest-Heck. “Sparks, like Freeman, is built by great people, has a long history of success, and is one of the most respected names in the industry. We couldn’t be more excited to have Sparks’ talented team join Freeman at this exciting time for the industry.”
Freeman’s agency and Sparks will integrate, and Sparks, a Freeman company, will continue to be led by CEO David Sudjian, who will report to Freeman President Janet Dell. The combined companies have more than 4,500 employees.
In addition to its headquarters in Philadelphia, Sparks has U.S. offices in Atlanta; Detroit; Fort Wayne, Ind.; Las Vegas; Los Angeles; San Francisco; New York; and Ridgefield, Conn., with international offices in Amsterdam, Berlin, Paris and Shanghai.
Sudjian said, “I am thrilled about the immense potential Freeman and Sparks have together. Our exceptional teams are eager to collaborate and leverage our strengths to create extraordinary experiences. The alignment of culture and values between Freeman and Sparks truly sets this combination apart, fueling our ability to deliver remarkable moments worldwide. Together, I am confident we will reach new heights, driven by a shared commitment to excellence.”
Related: SPARKS PROGRESSES ITS MULTIPHASE GROWTH STRATEGY WITH ACQUISITION OF 3D EXHIBITS
Financing for the transaction was provided by KKR primarily through KKR Opportunities Fund II and funds and accounts participating in its strategic investments strategy, but terms of the transaction were not disclosed. J.P. Morgan and King & Spalding LLP are serving as financial advisor and legal counsel, respectively, to Freeman. Cozen O’Connor is serving as legal counsel to Sparks. Simpson Thacher & Bartlett LLP acted as legal counsel to KKR.
“As our 96-year history shows, Freeman continues to be an industry leader because of our ability to understand trends and make bold strategic moves to support our customers’ needs today and tomorrow,” said Freeman Chair Carrie Freeman Parsons.
She continued, “As a family-owned company, we will continue to enhance our capabilities to better support corporate customers – deepening those relationships while also nurturing our longstanding relationships with show organizers. We look forward to delivering outstanding event experiences with the additional support of our strategic partner KKR.”
Don’t miss any event-related news: Sign up for our weekly e-newsletter HERE, listen to our latest podcast HERE and engage with us on Twitter, Facebook and LinkedIn!
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
Add new comment