First came the whispers, then the emails from tipsters: Is Aristotle for sale?
Not the ancient Greek philosopher, but the Little Rock digital marketing agency that handled the Arkansas.com website for the Arkansas Department of Parks & Tourism for two decades before CJRW took the reins last year.
A posting on BizBuySell.com lists a “Media Buying Digital Agency” in Arkansas — but “relocatable” — with an asking price of $4 million. The ad doesn’t name the company, but it’s beginning to look a lot like Aristotle: an “all-in-one Digital Agency that focuses on Media Buying/Placement, Programmatic Advertising, Content Creation and Website/Mobile Development” with an annual cash flow of $1 million.
The listing says the business was established in 1995; Aristotle’s website notes that it was formed in August 1995. The property was listed by Managing Director Brandon Heck of the Ashley Capital Group of Philadelphia, a mergers-and-acquisitions specialist.
Two Aristotle executives, CEO Marla Johnson and President Elizabeth Bowles, wouldn’t confirm any sale negotiations but didn’t deny that the ad was about Aristotle. “I wish I could be helpful, but as of now, there is nothing to talk about,” Bowles said in an email to Arkansas Business. Johnson, looped into the email chain, replied, “Ditto, Elizabeth.” Heck did not immediately return a call seeking comment.
Aristotle’s work for Arkansas.com was worth more than $1.5 million a year, but the firm chose not to compete when the state folded both “traditional” and “digital” marketing into a single contract last year.
Still, Aristotle has a substantial client base and touts its website work for tourist destinations like Graceland in Memphis; the states of Utah and Kentucky; Atlantic City, New Jersey; and San Jose, California.
Sign up for Daily E-news
