Havas to buy US agency in $25m deal
French advertising group Havas Advertising is expected to confirm its purchase of US advertising agency McKinney & Silver this week in a deal believed be worth $20-$25m (£13.84m-£17.31m).
LONDON (Brand Republic) - French advertising group Havas Advertising is expected to confirm its purchase of US advertising agency McKinney & Silver this week in a deal believed be worth $20-$25m (£13.84m-£17.31m).
McKinney & Silver is owned by US internet services group marchFIRST and based in Raleigh, Northern Carolina. Founded 30 years ago, it is expected that McKinney will remain a separate entity under the Havas umbrella. The agency reported revenues last year of $26m (£18m).
The agency includes Audi of America, Bacardi USA and Ben & Jerry’s among its clients.
marchFIRST’s need for cash may mean the agency is sold for less than the expected amount, which was widely held to be a fair market value based on its revenues for last year.
Latest jobs Jobs web feed
- Business Development Executive Bullfrog Digital LTD Up to £30k + Commission and benifits, Shoreditch
- Head of Strategy, Insight & External Relations London & Partners COMPETITIVE + PRP + BENEFITS, London Bridge
- Senior Account Manager Hot Cow Between £32,000 - £35,000 with discretionary bonuses., Near Chiswick Business Park, a fun and vibrant location to work with events, a lake and bars.
- Project Manager - Integrated / Digital - Superb London Agency Fill Recruitment Ltd £40k - £50k plus bonus and superb benefits!, Central London
- Account Manager/ Comms Planner Dot-Gap £35k, Central London
- PPC Executive - Leading Digital Marketing Agency Ultimate Asset £23000 - £28000 per annum + Amazing Benefits, London