CIA Group has completed the final link in its European network with
the acquisition of the Scandinavian media specialist, MarMedia Group, in
a pounds 30 million deal.
MarMedia’s agencies, which trade as Media Marketing Group, are to be
rebranded as CIA Medianetwork. The purchase boosts CIA’s total billings
to more than pounds 1.4 billion for 1997.
The acquisition spans five offices in Sweden, Norway and Denmark.
MarMedia’s client portfolio includes Ikea, Nestle and Toyota.
CIA is paying a minimum of pounds 21.9 million and a maximum of pounds
29.6 million in cash and shares for the company, which CIA has been
trading with on an affiliate basis for several years. The two groups
share a number of clients, including Shell and Calvin Klein
Chris Ingram, CIA’s group chairman, said: ’We already had an
infrastructure in place on which to build a larger group, so the deal
with MarMedia will provide real economies of scale.’