Verde Outdoor Media Acquires Sizable Midwestern Operator
third-generation outdoor advertising company
Verde Outdoor Media Acquires Sizable Midwestern Operator Avery Outdoor
Avery Outdoor, a division of Avery Brothers, LLC, sold its third-generation outdoor advertising company based in Sioux City, IA to Verde Outdoor Media. As part of the transaction, Verde Outdoor Media retains all of Avery Outdoor’s employees. Avery Brothers Sign Company, known for its sign fabrication services, was not part of the transaction. With more than 900 faces in Iowa, Nebraska, South Dakota, and Minnesota, the acquisition provides Verde a sizable Midwestern footprint. Verde intends to carry on the 80-year Avery legacy while investing in digital conversions, organic growth and tuck in acquisitions.
“We are super excited about the growth of this Midwestern powerhouse”, said Verde CEO, Dave Wood. “We are also grateful that such talented people are coming with the transaction as their involvement is key to our vision”.
Said Milt Avery, “The Avery family is thankful for the opportunity to build upon the vision set forth by our Uncles Milt and Noel and our father, Chuck. We are delighted to see the business in Verde’s hands as we know they will do a terrific job”.
Johnsen, Fretty & Co., LLC acted as financial advisor to Avery, while McGrath North Mullin & Kratz acted as legal advisor. Snell & Wilmer, LLP acted as legal advisor to Verde in the transaction.
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