M&C Saatchi buys Thai agency for Asia Pacific expansion
LONDON - M&C Saatchi has expanded its international operations with the launch of a new office in Bangkok, after taking a majority stake in the local agency Spaulding & Co.
The new office will see local partners owning 40%, while M&C Saatchi plc, chaired by Lord Maurice Saatchi, will own the majority 60%. It will be headed by Ron Spaulding, managing director of Spaulding & Co, and Amornpimol Thanakitamnvay as director.
The agency has already recruited Lowe Thailand creative director Veradi Vinyaratn and signed clients including the Siam Cement Company and Finansa Insurance.
Expansion in the growing Asia Pacific market was one of the major reasons for M&C Saatchi's flotation earlier this year.
Tom Dery, Asia Pacific chairman of the agency, said: "This is the first new office we have opened post-float and I am thrilled it is in the most dynamic region of the world.
"Asia Pacific has always played a leading role in M&C Saatchi since day one, and it is very exciting to see our business grow here."
In its first set of results since it floated, M&C Saatchi pre-tax profits rose by almost 9% for the first half of the year to £4m, with Asia and Australia putting in the best performance.
M&C Saatchi has offices in London, New York, Hong Kong, Shanghai, Singapore, Taipei, Kuala Lumpur and Tokyo, as well as Australia and New Zealand.
Spaulding & Co was founded in 1993 and had a partnership with DDB in the 1990s. It is best known for becoming the first Thai agency to be given a global advertising account, when Ethiopian Airlines appointed it in 1998.
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