Dentsu buys Sydney independent creative agency Oddfellows
Japanese marketing giant Dentsu has bought independent Sydney creative agency Oddfellows as it looks to strengthen its relationship with Toyota.
It will see Oddfellows managing director Andrew Black become chief executive of Oddfellows/Dentsu companies, with an initial 51 per cent stake converting to full ownership by 2017.
Oddfellows is the creative agency for Toyota’s retail advertising and there has been speculation over whether Dentsu would partner with the agency when it arrived in Australia three years ago.
“Dentsu and Oddfellows have had a long and very fruitful working relationship and we are delighted to finally formalize this,” said Dick van Motman, CEO of Dentsu Asia. “Oddfellows has been running a very tight ship and we have several shared clients. It made great sense for us to strengthen the relationship with all these parties by welcoming Oddfellows to the Dentsu family.”
Dentsu became the largest media agency group in the Asia Pacific when it acquired Aegis media last year, but a spokeswoman for Aegis said the deal had been driven by Dentsu and they will “advise of any local implications in due course”.
The announcement:
Dentsu Inc. announced today that its global business unit, the Dentsu Aegis Network, has reached an agreement with the principal shareholders of Australian advertising company group Oddfellows Holdings Pty Ltd (Head Office: Sydney) to acquire a 51% stake in the company. Under the terms of the agreement, Oddfellows Holdings will become a wholly owned subsidiary by the end of 2017.
Oddfellows Holdings owns three companies: advertising agency Oddfellows Pty Ltd, digital communications specialist @odds Pty Ltd, and art and design studio @tack Pty Ltd which provide integrated advertising communication services including media, digital, strategy, production, CRM and promotions. @odds Pty Ltd and @tack Pty Ltd are both 100% owned by Oddfellows Pty Ltd, which also has strategic alliances with film and animation studios as well as an audio & music studio.
To date, Dentsu has been providing services to its clients in Australia through both its brand and media agencies. The addition of the Oddfellows group of companies to the Dentsu Group will lead to further expansion of the Group’s business in the Australian market and an enhanced range of services, particularly in the creative field. Oddfellows Holdings Pty Ltd will be renamed Oddfellows/Dentsu Holdings Pty Ltd, and Oddfellows Pty Ltd will be renamed Oddfellows/Dentsu Pty Ltd. Andrew Black will be the CEO of all the Oddfellows/Dentsu companies.
“Dentsu and Oddfellows have had a long and very fruitful working relationship and we are delighted to finally formalize this,” said Dick van Motman, CEO of Dentsu Asia. “Oddfellows has been running a very tight ship and we have several shared clients. It made great sense for us to strengthen the relationship with all these parties by welcoming Oddfellows to the Dentsu family.”
The impact of this transaction on Dentsu’s consolidated financial results for the fiscal year ending March 31, 2014 is expected to be minimal.
More soon.
Congrats to the Oddfellows, quietly and consistently over delivering for years while the high profile agencies have waxed and waned.
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congratulations to Ray, Andrew, Ed et al.
Oddfellows has been a terrific and under-publicised independent agency for many years that has added significant value to their clients’ businesses.
I wish them all the very best in their new partnership
Nice one Ray & co, well deserved.
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Well done gents – we all knew this day would come.
See you round Man-town Blacky.
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Always preferred the old name: Sleeman Whitaker Heckendorf & Potter. Second best name in the game behind McWasp.
Well done to them. They are a part of Sydney agency DNA
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