Dentsu Holdings USA has acquired mcgarrybowen. No. Really. From the press release:
“mcgarrybowen’s New York headquarters, Chicago office and its digital arm, Continuity, will all continue to operate under the leadership of the mcgarrybowen executive management team, which now has access to the global resources of Dentsu.”
The undisclosed purchase price is probably sweet and has also caused Denstu to cut its annual profit outlook by 20 percent. As we all know, Dentsu has been trying to get their US arm together for years now. One solution is most definitely buying a shop and mcgarrybowen ain’t a bad one to poach. The shop has some nice clients including JPMorgan, Disney, Marriott International, Chevron, Pfizer, HP, Crayola, InBev, Century 21, News Corp, The Wall Street Journal and the Reebok.
Adweek also notes that “the independent agency will operate as an independent entity within Dentsu and report to Tim Andree, the CEO of Dentsu’s domestic operations.”
Dentsu has also snapped up San Francisco based shop Attik and the Santa Monica, Colby & Partners, in 2007.