Today the large-and-quickly-growing NYC holding company The CHR Group entered the PR game and continued its ongoing expansion by acquiring Raker Goldstein PR and Marketing, a New Jersey-based firm with more than a quarter century experience representing an extremely wide array of clients.
While Raker Goldstein will retain its name and its principals, the firm will now operate from CHR headquarters in New York City.
As the “independent agency vs. holding company” debate continues, CHR may well serve as Exhibit B: the company has snapped up ten firms in less than two years of existence, and this move is more significant for being its first public relations acquisition.
CHR CSO and partner Jonathan Zaback explains the appeal in the press release:
“It is hard finding PR firms that perform in a linear style, streamlining actions to deliver results, particularly in the area of earned media.”
Even the release makes a point of stating CHR’s interest in buying more agencies. While Raker was the first, it will certainly not be the last.