The CHR Group, a New York City-based marketing services holding company, has acquired consumer package design firm Slingshot, it was announced Monday.
The six-person Slingshot will maintain its brand and office in Toronto, and said it may open a New York City location in the future.
The deal is CHR’s twelfth acquisition since the company was founded in 2012. Its portfolio includes Toronto-based digital agency Stone Canoe, Winnipeg-based design studio and print house Vantage Studios, and brand development and digital services agency ClarkHuot.
“The goal of the CHR is to have a wide variety of disciplines in our group,” said Christopher Clarke, founding partner and vice-president, Canada for The CHR Group. “We focus on boutiques and niche practices, and Toronto is such a packaged goods stronghold in North America that we thought having Slingshot on board would open up a number of opportunities as well as add a level of expertise that out current offerings don’t offer.”
Ava Abbott, managing director of Slingshot, said the move is a “win-win” for both the firm and its clients, and will allow Slingshot to scale up its service offerings.
“From a client perspective it will allow me to offer a larger range of scope in support to my existing clients outside of packaging, because we all know packaging is a huge part of the puzzle, but it’s not the only part of the puzzle when you’re re-vamping a brand for the marketplace,” Abbott said. “Being able to reach out to a sister company that allows us to have a stronger digital presence… is hugely important to our existing clients.”
Clarke said The CHR Group has plans to acquire a “couple more” companies in Toronto over the next few months, and is looking to make a total of ten new acquisitions this year.
Founded in 1999, Slingshot has clients in the United States, Europe, Australia and the Caribbean.