Drake Cooper has new owners. Lots of them.

Earlier today, Boise Dev broke the news that Drake Cooper has been sold.

To its employees.

As noted in the Boise Dev story, the company converted to an employee stock ownership plan (ESPO) structure, according to former majority owner and CEO Jamie Cooper. That means about 50 of the company’s current employees now make up the ownership of the company.

There are 42 privately-held ESOP companies in Idaho, and only a handful that are 100% employee owned. Perhaps the most well known locally and regionally is the nation’s third-largest — WinCo Foods — with 20,000 employee-owners. Drake Cooper now joins approximately 3% of marketing and advertising firms nationwide that are employee owned.

In becoming an ESOP, Drake Cooper preserves local ownership and its independent advertising agency status. The agency’s management team and Cooper’s role as CEO will remain the same through 2022. During that time, they will focus on building a stronger board of directors with advertising industry expertise, and creating a new role for a GM/President to help guide Drake Cooper and its employee-owners into the future.

Read more about the announcement at Boise Dev, or see the full release, swag box contents, and more at Drake Cooper’s reverb on Medium.

Micron consolidates PR and marketing

PRWeek recently reported that Boise-based Micron Technology has consolidated its PR and marketing work to a cross-agency Interpublic Group team led by Golin.

The team will be handling global PR and integrated marketing and supporting Micron with crisis and issues-related communications duties. According to the article, the cross-agency group, called teamM, also includes Weber Shandwick and digital marketing shop MRM.

Read more about it in the PRWeek story.

What this ultimately means for local shops that have been doing project-based work for Micron remains to be seen. Given the size of the company and the nature of those types of projects, however, I suspect they will continue to some extent.