Travel, hospitality and entertainment marketing agency MMGY Global has acquired London-based luxury travel, spa and property PR agency Grifco.
Financial terms of the deal, which also includes London-based sister agency Ophir PR, were not reported.
L to R: Chris Campos, president and COO of MMGY Global, and Claire Griffin, founder and managing director of Grifco and executive director of Ophir PR.
Grifco, which was founded in 2002, counts clients in the travel, spa and beauty industries. Ophir, which also focuses on the hotel, travel and tourism industry, was launched in 2011.
Grifco will henceforth be known as Grifco, an MMGY Global company, while Ophir PR will continue to operate as a separate brand. Both agencies will become part of MMGY’s London operation.
Claire Griffin, founder of both agencies, will continue to oversee Grifco as managing director and Ophir PR as executive director and will partner with MMGY to grow the agency’s luxury travel footprint in Europe.
MMGY global CEO Clayton Reid told O’Dwyer’s that the deal would further expand its U.K. presence and European footprint.
“MMGY Global’s acquisition strategy is to expand in markets that will better serve our existing and prospective travel clients while deepening our capabilities globally,” Reid told O’Dwyer’s. “We continue to see opportunities in Europe, where the travel market is evolving, and an investment in PR and social is an important part of how we create a unique brand voice in the marketplace.”
The deal marks MMGY’s fifth acquisition since 2016 and is the result of a significant private equity investment the agency received from Peninsula Capital Partners and Fine Equity Partners.
MMGY in 2016 acquired Los Angeles-based lifestyle and travel firm Myriad International Marketing, New York-based hotel, destination and lifestyle shop NJFPR and travel and tourism market research firm DK Shifflet. In 2017, it acquired U.K.-based travel and tourism firm Hills Balfour.
Kansas City-headquartered MMGY, which was founded in 1981, now staffs more than 400 employees worldwide, including two offices in London as well as offices in Dubai, Madrid and Taipei.
MMGY Global was financially advised in the transaction by Grant Thornton and legally advised in the U.S. by Foley & Lardner and in the U.K. by Duane Morris. Grifco was advised on the transaction by Newlawslegal on legal matters and by tax advisors Warrener Stewart.