Havas buys Host
Havas has announced that it has acquired majority ownership of Australia’s largest independent agency Host in a move that bolsters its struggling Euro RSCG brand and recently relaunched Arnold Furnace.
According to the announcement Havas has bought a majority stake and the Host brand will remain. It said:
“Host, which will now be able to expand with the support of the Havas Worldwide network, will maintain its current name and continue to operate under the leadership of its existing management team. Terms of the transaction were not disclosed.”
Host clients include Vodafone, Levi’s, The Coca-Cola Company, Bankwest, BT Financial Group and Sydney Water.
Host was founded by Anthony Freedman just over a decade ago. he said: “In 2010 we turned ten years old as the biggest independent agency in Australia. Reaching this milestone prompted reflection on what might lie ahead for the next ten years. When Havas approached us with the same enthusiasm and belief in our business as we have, we seemed to have found the answer to that question.”
Havas Global CEO David Jones said: “It’s a very strategic acquisition sitting at the intersection of creativity, digital and Asia-Pacific. They are Australia’s largest independent agency, a brilliant creative agency, totally in line with our digital at the core model – over 30% of their revenue is digital.”
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Biggest by what metric?
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congratulations Anthony, Olly & Jacqui and good luck with the new challenge.
Good purchase for Havas, anyone know the multiple? Happy to hear all rumours on the multiple…. 🙂
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Congrats to Anthony and team. And who cares by what metric Fionn? Havas think Host is Australia’s largest independent agency and that’s all that matters.
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Anthony, Very, very well done – lead by an astute and inspirational parent CEO who will enable you and Host’s overall leadership team to take the agency’s well proven world-class offering to other parts of the world.
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great move by Host to take the brand global. Dont see what it has to do with Euro though?
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