Marketing and communications network Enero Group has bought creative agency Orchard Marketing.
Enero Group will pay $5m in cash upfront with future payments subject to Orchard’s achievements and targets. The total purchase price cap is $27m.
Orchard Marketing is an independent creative technology agency founded in 2006 and has offerings including creative, social, strategy, data, technology, user experience, CRM, content and eCommerce.
It has offices in both Sydney and New York and specialises in the health, wellness and lifestyle sectors.
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The creative technology agency has worked with clients including Nivea, Berocca, Blackmores, Pfizer and Arnott’s.
The acquisition will see Orchard continue to operate as an independent brand within the Enero Group.
Agencies within the Enero Group include BMF, Frank PR, Hotwire and Naked.
Matthew Melhuish, group CEO of Enero, said in a statement to the ASX: “Orchard is an ideal addition to help us drive the next phase of growth by expanding and deepening our core service offerings across the Group.
“We look forward to incorporating Orchard’s tech and digital capabilities within our midst while also broadening our global client base in Australia and the USA.”
Wai Kwok, managing partner at Orchard, agreed saying Enero would help expand the agency’s capabilities and resources.
“We are also pleased that being part of the Enero Group will mean that the Orchard brand will continue to grow here and internationally allowing us to provide greater opportunities and experiences for our team.”