Global communication company Havas Group has acquired a majority stake in US-based advertising agency Camp + King.
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No financial details were disclosed.
The transaction is in line with Havas’ strategy to build a creative network that delivers content through modern platforms.
Furthermore, the deal will also complement the buyer’s collection of Havas villages and boutiques throughout North America, including Arnold and Battery.
Upon closing, Jamie King will remain the target’s chief executive and lead a team of 60 employees across offices in Chicago and San Francisco.
Launched in 2011, Camp + King is a creative boutique agency which provides digital, social and content development expertise and services for companies worldwide.
The group’s offerings include consumer research, packaging and application design, as well as photography and video production operations through its in-house content laboratory.
Camp + King’s clients include the likes of Amazon, Google, YouTube and Capital One.
Since its inception, the agency has grown significantly and generates over 50.0 per cent of its revenue from its social and digital work, according to the press release.
Following the deal, Camp + King plans to expand its offerings in Chicago and adapt the Havas Village model in San Francisco.
Headquartered in Paris, the buyer claims to be one of the world’s largest global communications groups.
It provides a range of services, including engagement planning, direct marketing and product development.
Havas has 20,000 employees on its books and operates in 100 countries worldwide.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 194 deals targeting advertising agencies announced globally since the beginning of 2020.
Charlesbank Capital Partners bought US-based News America Marketing for USD 235.00 million in the largest of these.
S4 Capital, Jiangsu Zitian Media Technology and Hakuhodo Zeta, among other companies, were also targeted in this sector so far this year.
© Zephus Ltd