Design group Loewy expands with acquisition of three agencies
LONDON - Loewy, the brand communications group, has added three more agencies to its ranks with plans to acquire several more agencies to boost the firm's services in the next year.
Joining the group is ad agency Cortexx, retail catalogue and production specialist Parker Baines and sales promotion agency Spring. The new additions will bring Loewy's turnover up to £10m and a headcount of 100. Each agency will adopt the Loewy name after a short transitional period.
The latest phase of growth is supported by a £1m investment from financier Luke Johnson, the former Pizza Express owner who became chairman in March 2004.
CEO Charlie Hoult confirmed that other agencies under consideration include PR, digital, direct marketing and research, all with lead relationships in brand communications work for clients.
Loewy's brand communications offer is now split into four areas: insight, design, marketing and production, with teams in market research, planning and strategy, brand development, packaging, sales promotion, catalogues, advertising and corporate communications.
Cortexx and Spring are relocating to Loewy's offices in Pimlico and Parker Baines will remain in Clerkenwell.
Loewy embarked in its current expansion in June 2004 when it staged a five-way merger involving Raymond Loewy International, Wilson Harvey, Prescient, Loewy3 and RiteAngle, with the aim of building a marketing services group through further mergers and acquisitions.
Hoult said: "The more talent we add, the bigger our breadth across core sectors in consumer goods and retail. The integration of new teams is sparking the overall business up with fresh ideas, so we can respond to the increasingly demanding clients of today's market."
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