Penna made the purchase after Barkers went into administration yesterday (Monday). Penna said the deal will be funded from the company's existing cash and working capital facilities.
It is understood that Barkers made around 100 staff redundant last week. Through the deal, which was finalised yesterday, Barkers' remaining 250 staff will be employed across Penna's communications, recruitment and resource business.
Barkers' clients include the COI, Tesco, Aviva, Orange and Microsoft.
Recruitment advertising has been hit particularly hard by the recession. Trinity Mirror revealed recently that its group-wide recruitment ad revenues were down 50% year on year in the 17 weeks to 26 April. Meanwhile, Newsquest said in April that its recruitment ad revenue tumbled by 51.4% year on year in the first quarter of 2009.
Barkers specialises in recruitment communications, including digital media and digital creative work, and, has experience in traditional print-based recruitment advertising.
The agency operates offices around the UK including Birmingham, Manchester, Leeds and Bristol and Scotland.
The old Barkers business is expected to now trade as Penna Barkers.
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