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| (L-R) John Wren, Philippe Krakowsky |
Omnicom is acquiring Interpublic in a stock transaction that creates a powerhouse that combined for $2.8B in 2023 PR revenues.
The collection of OMC’s PR units Marina Maher Communications, Portland, Mercury, Porter Novelli, Ketchum, and FleishmanHillard generated $1.6B in ’23 revenues. They posted $1.2B in nine-month 2014 revenues.
IPG’s Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global chalked up $1.2B in '23 revenues, and $887M during the first nine months of this year.
OMC and IPG say their “highly complementary assets create an unmatched portfolio of services and products that expand client opportunities for each company on day one.”
They expect to chalk up $750M in annual cost synergies within two years of close, which is expected for the first-half of next year.
OMC CEO John Wren (72) will continue at the helm.
IPG CEO Philippe Krakowsky (62) and OMC president Daryl Simm (63) will serve as co-presidents & COOs. Krakowsky will also co-chair the Integration Committee post-merger.
OMC shareholders will control 60.3 percent of the merged entity, while IPG stockholders will own a 39.4 percent stake.
The combined company posted $25.6B in 2023 revenues, and $19.2B revenues for the 2024 nine-month period.
Miami’s Newlink Group has acquired Italy’s EJ to strengthen its position in southern Europe, where it has offices in Madrid and Barcelona.
Hodges Partnership co-founders Jon Newman and Josh Dare are selling the Richmond-based firm to four senior VPs who will assume ownership of the shop over the next couple of years.
Interluxe Group, luxury experiential shop, and North & Warren digital-first media agency, have acquired Quinn, the strategic communications shop that services upscale brands.
H/Advisors Abernathy and FGS Global work Keurig Dr Pepper $18B deal to acquire coffee company JDE Peet's. The coffee brands will then be spun off as a separately traded public company.
Shamrock Capital has acquired Penta Group, stakeholder communications firm, from Falfurrias Management Partners.
