Atlanta-based ad agency Fitzgerald & Co., part of Interpublic for over two decades, has been sold back to Dave Fitzgerald, the agency’s founder-chairman.
Fitzgerald started the agency 35-years ago. IPG acquired it in 1998, and it became part of the McCann network.
IPG said the agency would remain part of its network as an affiliate business partner.
The agency cited market changes and changing client needs as reasons for the buyback.
Fitzgerald & Co. clients include Checkers and Rallys, The Coca-Cola Company, French’s, Knights of Columbus, MedExpress, Southern Company and Synovus.
Fitzgerald & Co. is the third agency in recent years to buy itself back from IPG.
Dallas-based TM Advertising management bought the agency back in May 2017 after Dailey Advertising made a similar move the previous February.
Sadly, TM’s rebirth didn’t last long: It closed its doors last October after suffering client losses. It was perhaps best known for its iconic work for American Airlines.
Los Angeles-based Dailey, owned by IPG for more than 30 years, is still going strong with clients like Honda, Southern California Edison and Dole.