ParenteBeard, the largest accounting firm based in Philadelphia, is in merger talks with Chicago-based Baker Tilly Virchow Krause, a Baker Tilly spokesman confirmed Thursday morning.
“We are in ongoing discussions with ParenteBeard,” Baker Tilly’s David Pendery said. He declined to comment further on the talks.
The Philadelphia Business Journal contacted ParenteBeard Chairman and CEO Robert J. Ciaruffoli on June 10 about the talks but he said the firm would not “comment on the status of any such discussions, or respond to marketplace rumors.” He could not be immediately reached for comment Thursday morning.
Both firms are part of Baker Tilly International, an independent network of 161 accounting and consulting firms spread across 137 countries.
The Chicago firm was traditionally called Virchow Krause and chose to take on the Baker Tilly name in 2009. It has 11 offices in five states (Illinois, Michigan, Minnesota, Wisconsin, New York) and Washington, D.C. There is minimal geographic overlap, as the firms only have one office in the same city — New York. ParenteBeard has 20 offices in seven states: Pennsylvania (where it has 12 sites), New Jersey, New York, Connecticut, Delaware and Texas.